The bank has bought 4.99% stake in Max Life Insurance for Rs 95.75 crore. The bank now owns 5.99% stake in Max life Insurance.
Axis Bank climbed 3.2% to Rs.387.10 on BSE. The bank has informed BSE that on February 29, 2016, the Bank has purchased 9,57,48,762 shares of face value of Rs. 10/- each, or 4.99% equity stake, in Max Life Insurance Company Limited ("MLIC") from Max Financial Services Limited ( "MFSL"), formerly known as Max India Limited, and Mitsui Sumitomo Insurance Company Limited ("MSI") for a total cash consideration at par (Rs. 10/- per share) of Rs. 95.75 crores.
The scrip opened at Rs. 379.5 and has touched a high and low of Rs. 389.9 and Rs. 379.5 respectively. So far 6000016(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 89336.56 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 655.35 on 04-Mar-2015 and a 52 week low of Rs. 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 399 and Rs. 373.7 respectively.
The promoters holding in the company stood at 29.91 % while Institutions and Non-Institutions held 56.5 % and 10.04 % respectively.
The stock is currently trading above its 200 DMA.
The scrip opened at Rs. 379.5 and has touched a high and low of Rs. 389.9 and Rs. 379.5 respectively. So far 6000016(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 89336.56 crore.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 655.35 on 04-Mar-2015 and a 52 week low of Rs. 366.65 on 18-Jan-2016. Last one week high and low of the scrip stood at Rs. 399 and Rs. 373.7 respectively.
The promoters holding in the company stood at 29.91 % while Institutions and Non-Institutions held 56.5 % and 10.04 % respectively.
The stock is currently trading above its 200 DMA.
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