Reuters Market Eye - Shares in IndusInd Bank(INBK.NS) gain 3 percent on expectations of strong subscription to share sale, dealers say.
IndusInd Bank launched late on Monday a share sale to raise up to $360 million, two sources with direct knowledge of the deal said, as it looks to boost its capital base.
The share sale to institutional investors was launched at a floor price of about 374 rupees a share, said the sources, declining to be named as they were not authorised to speak to the media.
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With the Nifty breaching 8,500, sentiments are again bullish. But markets have been in the 8,200-8,600 range for some time and stocks across the board do not give the required confidence except for the liquidity factor. Many frontline stocks are not participating on the upside and the core sector is in a downtrend, writes Ambareesh Baliga. Column