Axis Bank shares gain; stake sale attracts strong demand
MUMBAI (Reuters) - Axis Bank (AXBK.NS) rose as much as 3.7 percent to its highest intraday level in more than two years on Tuesday as dealers cited good demand for a share sale of up to $1 billion.
The private sector lender on Monday was planning to raise as much as $1 billion through a qualified institutional placement, sources with direct knowledge of the matter told Reuters.
Axis Bank shares were up 4.24 percent at 3:24 p.m. after earlier gaining to as much as 1,503.55 rupees/
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
- Tweet this
- Share this
- Digg this
- Russia can run on empty for a year if sanctions block new bonds
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Mumbai hit by big power cuts after technical glitch at Tata Power unit
- Actress Jennifer Lawrence contacts authorities after nude photos hacked
- Rupee sees biggest fall in three weeks on broad dollar gains
The BSE Sensex on Tuesday breached the psychologically key level of 27,000 points for the first time to hit its third consecutive record high as blue-chips such as HDFC Bank gained after recent data raises hopes about the economy. Full Article