January 29, 2013 / 4:07 AM / 5 years ago

Axis Bank shares gain; stake sale attracts strong demand

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

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below