MoneyWorks4Me

IDBI Bank picks up 10% in bourse

07 Jul 2011 Evaluate

IDBI Bank has acquired 10 per cent stake in Universal Commodity Exchange (UCX), which is yet to start operations, for Rs 10 crore. UCX is promoted by Mumbai headquartered IT People that provide software solutions to capital and commodity markets. As per commodity norms, IT People, promoted by Mr Ketan Sheth, has to reduce its stake in the exchange to 26 per cent from the 40 per cent within five years of its operations.crackcrack

Peers
Company Name CMP
HDFC Bank 707.10
ICICI Bank 1354.10
Axis Bank 1259.00
Kotak Mahindra Bank 440.10
Indusind Bank 862.45
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