Axis Bank Ltd.

Shares of Axis Bank and Yes Bank were seen staggering under pressure since morning deals on reports that UK lender HSBC has offered its entire stakes in the banks for sale.  As per some media reports, HSBC is on course to offload its entire 4.8% stake in Indian private banking major Axis Bank, selling off a little more than 1.9 crore shares at a price range between Rs 951 and Rs 971 per share. Meanwhile, UK lender is also planning to liquidate its 4.8% stake in Yes Bank, nearly 1.7 crore shares, at a price between Rs 318 and Rs 325 per share.

Axis Bank is currently trading at Rs 970.00, down by 30.80 points or 3.08% from its previous closing of Rs 1000.80 on the BSE. The scrip opened at Rs 985.00 and has touched a high and low of Rs 995.00 and Rs 955.90 respectively. So far 25179689 shares were traded on the counter. The promoters holding in the company stood at 37.38% while Institutions and Non-Institutions held 46.34% and 7.74% respectively.

Yes Bank is currently trading at Rs. 326.65, down by 8.00 points or 2.39% from its previous closing of Rs 334.65 on the BSE. The scrip opened at Rs 329.70 and has touched a high and low of Rs 334.00 and Rs 326.35 respectively. So far 630609 shares were traded on the counter. The promoters holding in the company stood at 26.13% while Institutions and Non-Institutions held 62.24% and 11.62% respectively.