MARKET EYE-Federal Bank falls after L&T Finance sells stake

Tue Nov 27, 2012 10:16am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

* Shares in private sector lender Federal Bank Ltd fall
2.5 percent after L&T Finance Holdings Ltd 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.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
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