Uti Bank Up On Tata Acquisition Tattle

UTI Bank was among the top gainers in the banking sector, rising 3.45 per cent to close at Rs 51 on the BSE.

In the afternoon trades, the scrip was up 7.71 per cent to Rs 53.10. A total of 2.17 lakh shares changed hands on the BSE today. Till now the scrip of UTI Bank has risen 36 per cent from Rs 39 on March 31.

As per market buzz, Tata Sons has acquired a significant stake in UTI Bank. In fact, the corporate house has been believed to be accumulating shares of the bank over the last couple of months.

 

Earlier, there were reports that Tata Sons was keen on acquiring 10 per cent stake in the private sector bank. Tata Sons is believed to have acquired 10 per cent stake in UTI Bank as per the Reserve Bank of India (RBI) stipulation.