India seeks to sell stake in Axis Bank by month-end

MUMBAI Fri Mar 14, 2014 2:19pm IST

An employee speaks on his mobile phone as he walks inside Axis Bank's corporate headquarters in Mumbai July 17, 2012. REUTERS/Vivek Prakash/Files

An employee speaks on his mobile phone as he walks inside Axis Bank's corporate headquarters in Mumbai July 17, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - India is aiming to raise 30-40 billion rupees via the sale of a stake held by a state-run trust fund in Axis Bank (AXBK.NS) by month-end, Alok Tandon, joint secretary in the Department of Disinvestment said on Friday.

India holds a 20.7 percent stake in Axis Bank via a trust fund called Specified Undertaking of the Unit Trust of India (SUUTI).

Axis Bank shares were down 3.3 percent at 2:18 p.m, compared with a 0.8 percent fall in the broader Nifty.

(Reporting by Himank Sharma; Additional reporting by Manoj Kumar; Editing by Anand Basuin NEW DELHI)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

WTO

REUTERS SHOWCASE

Factory Activity

Factory Activity

Factories post fastest growth for 17 months in July  Full Article 

Car Launch Ahead

Car Launch Ahead

Tata Motors bets on new sedan to revive weak India sales.  Full Article 

Gold Smuggling

Gold Smuggling

In cat-and-mouse game, India uncovers new gold smuggling route.  Full Article 

Market Eye

Market Eye

FII selling of Indian stocks on Thursday biggest in a month  Full Article 

Profit Falls

Profit Falls

DLF quarterly profit falls 29 pct on lower home sales  Full Article 

Re-gaining Momentum

Re-gaining Momentum

China PMIs jump to multi-month highs in July, add to view economy is steadying  Full Article 

Coal India

Coal India

Some Coal India mines may be run by foreign firms - minister  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage