India Movers: Axis Bank, IDFC, Mukand, Mayur Uniquoters

Mukesh Buch
20 Mar, 2014
New York City

Axis Bank said UTI will lower its stake and sell 4.22 crore shares. IDFC plans to raise $122.94 million for a debt fund. Mukand surged after promoters increased their stake. Mayur Uniquoters board approved to raise $11.4 million.

[R]6:00 PM Mumbai – Axis Bank said UTI will lower its stake and sell 4.22 crore shares. IDFC plans to raise $122.94 million for a debt fund. Mukand surged after promoters increased their stake. Mayur Uniquoters board approved to raise $11.4 million.[/R]

The Sensex Index slipped 92.77 or 0.4% to close at 21,740.09. The CNX Nifty fell 40.95 to close at 6,483.10.

Gainers & Losers

Axis Bank Ltd declined 2.1% to Rs 1,356.85 after the bank said tomorrow government controlled Unit Trust of India is scheduled to sell 4.22 crore shares in the bank through a block transaction.

The government has set a price band of Rs 1,290 to Rs 1,357 per share for selling a part of its stake in the bank to raise between Rs 5,450 and 5,735 crore.

Eveready Industries India Ltd rose 0.2% to Rs 43.95 after the company increased battery prices from April 1.

IDFC Ltd fell 1.9% to Rs 111.60 after the IDFC Alternatives Ltd, a private equity fund plans to raise 750 crore rupees or $122.94 million for a debt fund.

Mukand Limited surged 20% to Rs 24.95 after the promoters increased their stake in the company from 54.30% to 73.30% via rights issue to raise Rs 143 crore at Rs 21 per share.

Mayur Uniquoters Limited soared 11.2% to Rs 518.20 after the board approved to raise as much as Rs 70 crore or $11.44 million through preferential allotments to private equity firm WestBridge Capital.