On Thursday, Axis Bank shares surged 5% to reach the day s peak at Rs 1,119, following the company s release of better-than-anticipated results. The bank reported a formidable profit of Rs 7,129.67 crore for the March quarter, buoyed by margin expansion and increased non-core incomes.
Axis Bank share price: Nomura India said a potential equity capital raise by Axis Bank would come as a surprise, given its management had in is November 2023 analyst meet cited no intent to raise capital any time soon.
Bain Capital sold a 1.1% stake in Axis Bank for Rs 3,500 crore in a block deal. BofA Securities issued a term sheet, wherein Integral Investments South Asia IV, BC Asia Investments VII & III were looking to offload shares.
Following the December quarter results, Axis Bank shares plunged 6.24 per cent to hit a low of Rs 1,020.85 on BSE. With this, the year-to-date return for the banking stock has turned negative.