Axis Bank falls 5.8%, most in 11 months - News Summed Up
Axis Bank falls 5.8%, most in 11 months

Axis Bank falls 5.8%, most in 11 months

September 23, 2016 13:07 UTC

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Axis Bank falls 5.8%, most in 11 months


n Friday, Axis Bank closed at Rs557.40—a level last seen on 4 August, down 5.84%, the maximum fall since 10 October 2015. Photo: BloombergMumbai: Shares of Axis Bank on Friday fell 5.8%, the steepest fall in 11 months, after news reports indicated that the government may start selling some of its stake in the lender. At the end of the June quarter, the government owned 11.51% in Axis via the Specified Undertaking of Unit Trust of India, or SUUTI. On Friday, Axis Bank closed at Rs.557.40—a level last seen on 4 August, down 5.84%, the maximum fall since 10 October 2015. The stock fell in four out of the last five trading sessions and is down 7.4% in this period.


Source: Mint September 23, 2016 13:07 UTC



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