Axis Bank has dipped 3% to Rs 1,760, extending its nearly 8% fall in past week, after insurance giant Life Insurance Corporation of India (LIC) have offloaded equity shares worth of Rs 51 crore through open market transaction during last week.
LIC has sold 260,612 shares or 0.056% stake in the bank between June 9 and June 12 via open market for Rs 51 crore, Axis Bank said in a regulatory filing.
Post transaction, LIC holding in the Axis Bank declined to 12.549% from 12.605% earlier, it added.
LIC, the largest promoter in the bank, held 13.62% stake as of March 31, 2014, the shareholding pattern data shows.
The stock opened at Rs 1,818 and touched a low of Rs 1,750 on the BSE. A combined 1.06 million shares changed hands on the counter so far on BSE and NSE.
LIC has sold 260,612 shares or 0.056% stake in the bank between June 9 and June 12 via open market for Rs 51 crore, Axis Bank said in a regulatory filing.
Post transaction, LIC holding in the Axis Bank declined to 12.549% from 12.605% earlier, it added.
LIC, the largest promoter in the bank, held 13.62% stake as of March 31, 2014, the shareholding pattern data shows.
The stock opened at Rs 1,818 and touched a low of Rs 1,750 on the BSE. A combined 1.06 million shares changed hands on the counter so far on BSE and NSE.
