The Hindu Business Line : Block deals in UTI Bank shares

UTI Bank's shares witnessed block deals involving 88.3 lakh shares (3.83 per cent stake) worth Rs 127 crore in the early half of the trading day with two FIIs, Capital Research & Management Company and T Rowe Price International Inc, picking up stake in the private bank. According to the BSE, the deal was struck at Rs 140 per share with Chryscapital LLC, the seller.

The Mauritius-based investment firm Chryscapital LLC had purchased 3.82 per cent in UTI Bank in March 2003 with a one-year lock-in period at around Rs 54 per share. As the one-year period lapsed, the firm sold its stake at almost three times the price it had bought it.

The bank's share price today touched a high of Rs 152.70 and closed at Rs 146.75 on the BSE. The share gained 3.38 per cent from the previous close after witnessing a turnover of Rs 13,251 lakh shares on the BSE. On the NSE, too, the share price of the bank gained by 4.43 per cent to end the day at Rs 148.65.

The 52-week high of UTI Bank's share price is Rs 179.35 while the 52-week low is Rs 39.

The bank's share price has been steadily on the rise from Rs 39 levels in April 2003. It escalated in the run-up to the British banking giant, HSBC's announcement to purchase over 20 per cent in the private bank in December 2003. The share price further rose in January 2004 to touch its 52-week high of Rs 179.35.

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