<p>The Finance Ministry may consider selling part of its stake in Axis Bank and ITC, held through SUUTI, in next few months, an official said.</p>.<p>As on September 30, 2018, Specified Undertaking of Unit Trust of India (SUUTI) held around 9.63 percent stake in Axis Bank, 7.97 percent in ITC and 1.80 percent in L&T.</p>.<p>While the government is waiting for L&T to launch a buyback offer to tender its shares; for holding in Axis Bank and ITC, it would consider off-market deals, an official said.</p>.<p>"We are open to selling stake in Axis Bank and ITC through bulk or block deals. It all depends on the valuation," the official told PTI.</p>.<p>Shares of Axis Bank settled at Rs 666.50, up 0.53 percent, while ITC was up 2.02 percent at Rs 295.40 at close of market hours on January 11.</p>.<p>A bulk deal is a deal in which more than 0.5 percent of the total number of shares of a listed company are sold or bought by a single investor in the open market. In a block deal, two parties make a transaction involving shares worth at least Rs 5 crore. Block deal transactions are conducted in a separate trading window.</p>.<p>Infrastructure major Larsen & Toubro (L&T) has already approached market regulator Sebi for launching a share buyback programme. The government would participate in the buyback programme, and is expecting to get around Rs 700 crore.</p>.<p>The government had sold 2.5 percent stake in L&T held through SUUTI in June 2017 through block deals in the market.</p>.<p>In February 2017, the government had raised Rs 6,700 crore through sale of 2 percent stake held through SUUTI in tobacco-to-FMCG firm ITC.</p>.<p>In November 2016 it sold 1.63 percent in L&T, while in March 2014 it had sold 9 percent stake in Axis Bank to raise Rs 5,500 crore through block deals.</p>.<p>SUUTI holdings in ITC, Axis Bank and L&T are also part of Bharat 22 exchange-traded fund (ETF).</p>.<p>The government, which has set a divestment target of Rs 80,000 crore for 2018-19, has so far raised over Rs 34,000 crore.</p>
<p>The Finance Ministry may consider selling part of its stake in Axis Bank and ITC, held through SUUTI, in next few months, an official said.</p>.<p>As on September 30, 2018, Specified Undertaking of Unit Trust of India (SUUTI) held around 9.63 percent stake in Axis Bank, 7.97 percent in ITC and 1.80 percent in L&T.</p>.<p>While the government is waiting for L&T to launch a buyback offer to tender its shares; for holding in Axis Bank and ITC, it would consider off-market deals, an official said.</p>.<p>"We are open to selling stake in Axis Bank and ITC through bulk or block deals. It all depends on the valuation," the official told PTI.</p>.<p>Shares of Axis Bank settled at Rs 666.50, up 0.53 percent, while ITC was up 2.02 percent at Rs 295.40 at close of market hours on January 11.</p>.<p>A bulk deal is a deal in which more than 0.5 percent of the total number of shares of a listed company are sold or bought by a single investor in the open market. In a block deal, two parties make a transaction involving shares worth at least Rs 5 crore. Block deal transactions are conducted in a separate trading window.</p>.<p>Infrastructure major Larsen & Toubro (L&T) has already approached market regulator Sebi for launching a share buyback programme. The government would participate in the buyback programme, and is expecting to get around Rs 700 crore.</p>.<p>The government had sold 2.5 percent stake in L&T held through SUUTI in June 2017 through block deals in the market.</p>.<p>In February 2017, the government had raised Rs 6,700 crore through sale of 2 percent stake held through SUUTI in tobacco-to-FMCG firm ITC.</p>.<p>In November 2016 it sold 1.63 percent in L&T, while in March 2014 it had sold 9 percent stake in Axis Bank to raise Rs 5,500 crore through block deals.</p>.<p>SUUTI holdings in ITC, Axis Bank and L&T are also part of Bharat 22 exchange-traded fund (ETF).</p>.<p>The government, which has set a divestment target of Rs 80,000 crore for 2018-19, has so far raised over Rs 34,000 crore.</p>