Govt further trims SUUTI stake in Axis Bank: Report
Government offloaded 61.43 lakh shares of Axis Bank between December 2 and December 4, the report said.
By ETMarkets.com |
BCCL
The government further sold some of the Specified Undertaking of Unit Trust of India’s (SUUTI) stake in private lender Axis Bank last week, ET NOW reported quoting sources.
It offloaded 61.43 lakh shares of Axis Bank between December 2 and December 4, the report said.
The scrip traded 0.09 per cent up at Rs 615.10 after the report, while the benchmark BSE Sensex was up 0.40 per cent at 45,259 at around 2.10 pm (IST).
“Government had planned to sell 0.50-0.75 per cent of its holding in SUUTI. Its stake sale in Axis Bank via SUUTI will not exceed 1 per cent. The government’s stake in the private lender via SUUTI is now over 3.8 per cent,” ET NOW said.
Earlier, SUUTI offloaded 36,25,075 shares of Axis Bank between November 26-27, bringing its stake in the lender down to 4.12 per cent from 4.24 per cent earlier.
It offloaded 61.43 lakh shares of Axis Bank between December 2 and December 4, the report said.
The scrip traded 0.09 per cent up at Rs 615.10 after the report, while the benchmark BSE Sensex was up 0.40 per cent at 45,259 at around 2.10 pm (IST).
“Government had planned to sell 0.50-0.75 per cent of its holding in SUUTI. Its stake sale in Axis Bank via SUUTI will not exceed 1 per cent. The government’s stake in the private lender via SUUTI is now over 3.8 per cent,” ET NOW said.
Earlier, SUUTI offloaded 36,25,075 shares of Axis Bank between November 26-27, bringing its stake in the lender down to 4.12 per cent from 4.24 per cent earlier.
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