Private Bank Shares Rise 4% After SAFEMA Tribunal Dismisses ED Appeal; FII Stake at 6.19%

Private bank shares rose 4% after SAFEMA Tribunal dismissed an ED appeal regarding confiscation of shares.

The appeal sought confiscation of 46,862 shares transferred to foreign investors.

FII stake in the bank stands at 6.19%.

The bank stated the tribunal order will have no material impact on its financials.