Axis Bank top Sensex gainer as it raises funds worth $10 million

Shares of Axis Bank rose nearly 3% after the private sector bank informed the bourses that it has raised senior notes in the international market.

Reacting to the development, the stock gained as much as 2.6% to Rs 450 on the BSE, and was the leading Sensex gainer. 

On the BSE, 85 lakh shares exchanged hands on the counter as compared to its two-week average of 13 lakh shares.

Axis Bank said that its board of directors passed a resolution approving the allotment of 3 year senior floating rate notes aggregating to $10 million under the medium term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch. 

The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 417 on 11 April 2016. 

The stock underperformed the market over the past one month till Monday's closing, sliding over 4 as compared to over 1% gains on Sensex. The scrip marginally underperformed the market over the past one quarter, gaining 11.37% against the Sensex's 11.53% rise.