Axis Bank falls as RBI restricts further purchases by FIIs - The New Indian Express

Axis Bank falls as RBI restricts further purchases by FIIs

Published: 02nd April 2014 12:19 PM

Last Updated: 02nd April 2014 12:19 PM

Axis Bank, private sector bank in India, fell on Wednesday after Reserve Bank of India (RBI) said that no further purchases of shares of the bankwould be allowed through stock exchanges in India on behalf of FIIs.

''The foreign share holding by Foreign Institutional Investors (FIIs) in bank crossed the overall limit of 49% of its paid-up capital,'' said RBI.

Shares ofthe bankare trading at Rs 1,448, down Rs 20.8, or 1.42% at the Bombay Stock Exchange (BSE) on Wednesday at 11:40 a.m.The scrip has touched an intra-day high of Rs 1,459.50 and low of Rs 1,438.50. The total volume of shares traded at the BSE is 70,623.In the earlier session, the shares rose 0.57%, or Rs 8.34, at Rs 1,468.80. Currently, the stock is trading down 6.52% from its 52-week high of Rs 1,549 and above 89.53% over the 52-week low of Rs 764.

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