Federal Bank falls after L&T Finance sells stake
Reuters Market Eye - Shares in private sector lender Federal Bank Ltd (FED.NS) fall 2.5 percent after L&T Finance Holdings Ltd (LTFH.NS) sold 7.99 million shares in the bank at an average price of 453.37 rupees
L&T Finance on Monday said it plans to raise about $65 million by selling its 4.7 percent stake in the bank, according to a source and a term sheet obtained by Reuters.
Dealers say less bids at top end of the price range for block sale is keeping the stock under pressure.
- Tweet this
- Share this
- Digg this
- Thousands raised to buy car for Pennsylvania sniper's lookalike
- WHO vaccines boss signs up as Ebola trial guinea pig
- UPDATE 4-P&G to exit Duracell battery business; quarterly sales dip
- Two U.S. states to quarantine health workers returning from Ebola zones |
- UPDATE 10-Two U.S. states to quarantine health workers returning from Ebola zones
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article