Axis Bank drops after 6-day 14.5% rally

Axis Bank lost 1.09% to Rs 1,361.90 at 10:18 IST on BSE, with the stock sliding on profit booking after 6-day 14.56% rally.

Meanwhile, the S&P BSE Sensex was up 34.14 points or 0.18% at 18,765.30.

On BSE, 32,000 shares were traded in the counter as against average daily volume of 1.70 lakh shares in the past one quarter.

The stock hit a high of Rs 1,370 and a low of Rs 1,352 so far during the day. The stock had hit a 52-week low of Rs 922 on 18 May 2012. The stock had hit a 52-week high of Rs 1,519 on 1 February 2013.

The stock had outperformed the market over the past one month till 17 April 2013, rising 2.6% compared with the Sensex's 3.58% fall. The scrip had also outperformed the market in past one quarter, declining 1.99% as against Sensex's 6.18% fall.

The large-cap private sector bank has equity capital of Rs 468.25 crore. Face value per share is Rs 10.

Shares of Axis Bank had rallied 14.56% in six trading sessions to settle at Rs 1,376.95 on Wednesday, 17 April 2013, from a recent low of Rs 1,201.90 on 9 April 2013.

Axis Bank's net profit rose 22.2% to Rs 1347.22 crore on 19.1% growth in total income to Rs 8580.30 crore in Q3 December 2012 over Q3 December 2011. The bank unveils FY 2013 results on 24 April 2013.

Axis Bank offers the entire spectrum of services to customer segments covering large and mid-corporates, SME, agriculture and retail businesses.

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