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BUZZ-India's Dena Bank rises on share sale to institutions
October 11, 2017 / 4:51 AM / in 2 months

BUZZ-India's Dena Bank rises on share sale to institutions

** State-run Dena Bank Ltd rises as much as 4.3 pct to 31.80 rupees, its highest level since Sept. 26

** Bank selling shares to institutions to raise between 2.75 billion rupees ($42 million) and 4.25 billion rupees ($65 million), term sheet shows

** Share sale to help improve capital adequacy ratio

** Stock posts biggest intraday pct gain since Sept. 22

** Stock down 6.6 pct this year as of Tuesday’s close ($1 = 65.2650 Indian rupees)

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