Jan 22, 2014, 04.29 PM IST
LIC, one of the promoters in Axis Bank, bought 52.07 lakh shares or over 1 percent of paid-up capital worth Rs 625.64 crore between September 2013 and January 21, 2014. The total number of shares of Axis Bank with LIC have risen to 4.9 crore.
Tags LIC, Axis Bank, open market transactions, BSE, SUUTI, General Insurance Corporation, New India Assurance, National Insurance Company
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LIC stake in Axis Bank crosses 10%
LIC, one of the promoters in Axis Bank, bought 52.07 lakh shares or over 1 percent of paid-up capital worth Rs 625.64 crore between September 2013 and January 21, 2014. The total number of shares of Axis Bank with LIC have risen to 4.9 crore.
Like this story, share it with millions of investors on M3
LIC stake in Axis Bank crosses 10%
LIC, one of the promoters in Axis Bank, bought 52.07 lakh shares or over 1 percent of paid-up capital worth Rs 625.64 crore between September 2013 and January 21, 2014. The total number of shares of Axis Bank with LIC have risen to 4.9 crore.
LIC, one of the promoters in Axis Bank , bought 52.07 lakh shares or over 1 percent of paid-up capital worth Rs 625.64 crore between September 2013 and January 21, 2014. With the acquisition, LIC's stake in the private lender rose to 10.44 percent from 9.33 percent, Axis Bank said in a filing on the BSE. The total number of shares of Axis Bank with LIC have risen to 4.9 crore.
Shares of Axis Bank were trading at Rs 1,184.85 per unit down 0.36 percent over their previous close on the BSE. Meanwhile, Specified Undertaking of UTI (SUUTI), one of the promoters of Axis Bank, has appointed three merchant bankers for sale of its stake in the bank. The three merchant bankers selected for the stake sale are JP Morgan, Citigroup Global Markets and JM Financial Consultants.
SUUTI, formed in 2003 is an offshoot of erstwhile UTI, holds 23.58 percent in the country's third largest private sector lender Axis Bank. The other promoters of the bank are General Insurance Corporation, New India Assurance and National Insurance Company.
Axis Bank stock price
On January 22, 2014, Axis Bank closed at Rs 1186.85, down Rs 2.25, or 0.19 percent. The 52-week high of the share was Rs 1549.00 and the 52-week low was Rs 764.00.
The company's trailing 12-month (TTM) EPS was at Rs 126.37 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 9.39. The latest book value of the company is Rs 705.53 per share. At current value, the price-to-book value of the company is 1.68.
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