SUUTI stake sale won't have a significant impact on the long term profile of Axis Bank: Vijai Mantri

In a chat with ET Now, Vijai Mantri, Managing Director & Chief Executive Officer, Pramerica Mutual Fund shares his view on Axis Bank.

ET Now: What are the implications of the SUUTI Axis Bank stake sale?

Vijai Mantri: They are bias for the Indian banking industry. The challenges many people had is that they start buying from the open market, which will help the price to go up and that will defeat the purpose of owning the stock.

If this kind of amount is available at the bulk deal, there will be many interested parties who would be looking at buying. Temporarily, there could be some challenges on particular stock.

Despite the news close to 6000 crore sale, the stock has gone up quite substantially in last few months time. So, this won't be a long term drag on the stock. This could be a temporary correction, but won't have a significant impact on the long term profile of the bank.