November 27, 2012 / 5:07 AM / 5 years ago

Federal Bank falls after L&T Finance sells stake

1 Min Read

Reuters Market Eye - Shares in private sector lender Federal Bank Ltd (FED.NS) fall 2.5 percent after L&T Finance Holdings Ltd (LTFH.NS) sold 7.99 million shares in the bank at an average price of 453.37 rupees

L&T Finance on Monday said it plans to raise about $65 million by selling its 4.7 percent stake in the bank, according to a source and a term sheet obtained by Reuters.

Dealers say less bids at top end of the price range for block sale is keeping the stock under pressure.

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