The Hindu Business Line : Barclays Capital picks 4.3 pc stake in UTI Bank

Barclays Capital, part of the UK's Barclays Bank, has purchased 1,00,56,000 shares at Rs 134.91 on the BSE. The total value of the transaction is Rs 135.58 crore. Of these shares, Citicorp Banking Corporation sold 88.30 lakh shares at Rs 135 on the BSE.

The UTI Bank scrip closed at Rs 136.80, up 13.67 per cent, with volumes of 1.049 crore shares; on the NSE, it closed at Rs 136.40, up 13.52 per cent, with volumes of 12.81 lakh shares.

Brokers said there was nothing unusual about the block deals, and Barclays raising its stake further with an intent to acquire UTI Bank looks unlikely as HSBC already has over 15 per cent stake in the bank.

A banking analyst said UTI Bank is steadily increasing its reach across the country. He said several FIIs had already taken stake in the bank and Barclays taking stake was pure investment.

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