Federal Bank shares hit after 5 pct stake sold

FEDERAL-BANK-SHARES-HIT-AFTER-STAKE-SOLD:Federal Bank shares hit after 5 pct stake sold

tokyo  August 28, 2012, 11:14 IST

tokyo  08 28, 2012, 11:20 IST

 

 

Reuters Market Eye - Federal Bank shares fall 1.9 percent after the BSE said 8.5 million shares in the lender, or a 5 percent stake, was sold via two block deals at an average price of 404.08 rupees for a total of around 3.4 billion rupees.

The shares were sold at a discount to Federal's closing price of 414.05 rupees on Monday.