Street signs: Axis Bank share sale, FPIs cold towards HDFC Bank, and more

The lacklustre response from foreign portfolio investors (FPIs) for HDFC Bank shares has taken several market participants by surprise

Axis Bank share sale in slow lane

The government is likely to go slow with Axis Bank share sale held under the Specified Undertaking of Unit Trust of India (Suuti). Axis Bank shares have come off sharply from their highs amid negative sentiment towards the corporate-focused bank. “The Centre could push for share sale in ITC and Larsen & Toubro (L&T), which have fallen relatively less compared to Axis Bank and push disinvestment in the private sector lender to the second half of 2018-19 when sentiment improves,” said a banker. Suuti holds 10.33 per cent in Axis Bank, 8.42 per cent