Nov 27, 2012, 06.18 PM | Source: Reuters
Shares in private sector lender Federal Bank Ltd fall 2.5 percent after L&T Finance Holdings Ltd sold 7.99 million shares in the bank at an average price of Rs 453.37.
L&T Finance on Monday said it plans to raise about USD 65 million by selling its 4.7 percent stake in the bank, according to a source and a term sheet obtained by Reuters.
Dealers say less bids at top end of the price range for block sale is keeping the stock under pressure.
Net Sales are expected to increase by 8.8 percent
L&T Finance Holdings Ltd has informed BSE that a M
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