Shares of Axis Bank are trading higher by nearly 3% at Rs 1,113 on the Bombay Stock Exchange (BSE), after the exchange said it will include the private lender in its 30-share benchmark index S&P BSE Sensex with effect from December 23.
The country's third largest private sector lender will replace Jindal group-owned Jindal Steel and Power (JSPL) in the benchmark index.
Meanwhile, the Reserve Bank of India (RBI) has said foreign institutional investors (FIIs) and non-resident Indians (NRIs) would not be allowed to purchase shares in Axis Bank as the limit for their investment has reached the trigger limit. As per shareholding pattern on September 30, 2013, FIIs hold 49.34% stake in the bank.
The stock opened at Rs 1,095 and hit a high of Rs 1,116 on the BSE. A combined 728,156 shares have changed hands on the counter till early noon deals on BSE and NSE. JSPL on the other hands was up 1.3% at Rs 252 on BSE.
The country's third largest private sector lender will replace Jindal group-owned Jindal Steel and Power (JSPL) in the benchmark index.
Meanwhile, the Reserve Bank of India (RBI) has said foreign institutional investors (FIIs) and non-resident Indians (NRIs) would not be allowed to purchase shares in Axis Bank as the limit for their investment has reached the trigger limit. As per shareholding pattern on September 30, 2013, FIIs hold 49.34% stake in the bank.
The stock opened at Rs 1,095 and hit a high of Rs 1,116 on the BSE. A combined 728,156 shares have changed hands on the counter till early noon deals on BSE and NSE. JSPL on the other hands was up 1.3% at Rs 252 on BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%