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Market Update

India Movers: Axis Bank, IDFC, Mukand, Mayur Uniquoters

Author: Mukesh Buch
Last Update: 12:20 PM ET March 20 2014

6:00 PM Mumbai Axis Bank said UTI will lower its stake and sell 4.22 crore shares. IDFC plans to raise $122.94 million for a debt fund. Mukand surged after promoters increased their stake. Mayur Uniquoters board approved to raise $11.4 million.

The Sensex Index slipped 92.77 or 0.4% to close at 21,740.09. The CNX Nifty fell 40.95 to close at 6,483.10.

Gainers & Losers

Axis Bank Ltd declined 2.1% to Rs 1,356.85 after the bank said tomorrow government controlled Unit Trust of India is scheduled to sell 4.22 crore shares in the bank through a block transaction.

The government has set a price band of Rs 1,290 to Rs 1,357 per share for selling a part of its stake in the bank to raise between Rs 5,450 and 5,735 crore.

Eveready Industries India Ltd rose 0.2% to Rs 43.95 after the company increased battery prices from April 1.

IDFC Ltd fell 1.9% to Rs 111.60 after the IDFC Alternatives Ltd, a private equity fund plans to raise 750 crore rupees or $122.94 million for a debt fund.

Mukand Limited surged 20% to Rs 24.95 after the promoters increased their stake in the company from 54.30% to 73.30% via rights issue to raise Rs 143 crore at Rs 21 per share.

Mayur Uniquoters Limited soared 11.2% to Rs 518.20 after the board approved to raise as much as Rs 70 crore or $11.44 million through preferential allotments to private equity firm WestBridge Capital.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc