India seeks to sell stake in Axis Bank by month-end
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)
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
Trending On Reuters
Facebook Inc's revenue grew 49 percent in the fourth quarter, as mobile advertising growth helped the world's largest Internet social network beat Wall Street's targets for earnings and sales. Full Article