Bank of Baroda Sells holding in NSEIL to Citigroup for Rs.90.65 Crores

Bank of Baroda has announced that the Bank has completed the sale of 4,00,500 shares of National Stock exchange of India Ltd (NSEIL) (representing 0.90% of NSEIL equity) to Citigroup Strategic Holdings Mauritius Ltd at a price of Rs 2281.01 per share and booked a profit of Rs 90.65 crores. The deal was contracted on February 14, 2007 together with other banks and concluded on June 28, 2007 on the receipt of the regulatory approvals.

The stock closed the day at Rs.270.25, up by Rs.10.60 or 4.08%. The stock hit an intraday high of Rs.271.10 and low of Rs.261. The total traded quantity was 158350 compared to 2 week average of 112109.

Source : Equity Bulls

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