Merrill Lynch picks up stake in Axis Bank

MUMBAI: Foreign Fund Merrill Lynch Capital Markets Espana has picked up 0.74 per cent stake in Axis Bank for Rs 128.52 crore in open market transactions.

Merrill Lynch Capital Markets acquired 21 lakh shares in Axis Bank for Rs 612 per share in a bulk deal at the Bombay Stock Exchange.

In another deal, Life Insurance Corporation of India also acquired 19.38 lakh equity shares in Axis Bank at the same price, data available on the exchange show.

Besides, another foreign fund Barclays Capital Mauritius sold off 77 lakh equity shares in Axis Bank at Rs 612.02 a share. As on June 30, LIC held nearly 11 per cent stake in Axis Bank.

Shares of Axis Bank on Thursday closed at Rs 629.75, up 2.89 per cent at the BSE.