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Dena Bank climbs 5% as bank decides to sell non-core assets

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NEW DELHI: Shares of Dena Bank climbed over 5 per cent in Wednesday's trade after the lender sold a cumulative 60,50,000 shares in three entities, including SIDBI. The move is seen as a part of the public sector bank’s strategy to hive off non-core assets. The stock rose 5.31 per cent to hit a high of Rs 15.85 on BSE. In a filing to BSE, the bank said it would be floating a request for quotation for purchase of equity shares in NSDL E-Governance Infrastructure, National Securities Depository Ltd.

(NSDL) and Small Industries Development Bank of India (SIDBI). In NSDEL E-Governance, Dena Bank will sell 1.563 per cent of the total paid up equity capital representing 6,25,000 shares, it said. In NSDL, the lender will sell 4,00,000 shares (0.563 per cent); and 4,00,000 shares (1 per cent) respectively in two lots. Earlier in January this year, the state-run had adopted reforms agenda under which they are to prune non-core businesses to become leaner and improve their balance sheets, PTI reported.




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Dena Bank climbs up 5% as bank decides to offer non-core possessions
NEW DELHI: Shares of Dena Bank climbed up over 5 per cent in Wednesday's trade after the lender sold a cumulative 60,50,000 shares in 3 entities, including SIDBI. The relocation is seen as a part of the public sector bank's technique to hive off non-core possessions. The stock increased 5.31 percent to strike a high of Rs 15.85 on BSE. In a filing to BSE, the bank



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