 "Federal Bank falls 3% after L&T Finance sells stake in co")
Shares in private sector lender Federal Bank fell 2.5 percent after L&T Finance Holdings 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 $65 million by selling its 4.7 percent stake in the bank, according to a source and a term sheet obtained by Reuters.
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Dealers say less bids at top end of the price range for block sale is keeping the stock under pressure.
Reuters
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 "RBI approves Yes Bank stake sale to equity firms Carlyle Group and Advent International; details here")
 "Federal Bank holds 21% of inward remittance market: Report")
 "Watch: Robot dressed in saree accepts loan document from bank branch")