Axis Bank drops as Sebi orders to probe data leak

Axis Bank dropped 0.8% to Rs 550.10 at 10:10 IST on BSE after the bank said that it will conduct an internal inquiry on leakage of results on Whatsapp.

The announcement was made after market hours yesterday, 27 December 2017.

Meanwhile, the S&P BSE Sensex was up 3.13 points or 0.01% at 33,914.94.

On the BSE, 91,531 shares were traded on the counter so far as against the average daily volumes of 5.95 lakh shares in the past one quarter. The stock had hit a high of Rs 553.10 and a low of Rs 544.35 so far during the day. The stock had hit a 52-week high of Rs 565.40 on 26 November 2017. The stock had hit a 52-week low of Rs 424.60 on 10 January 2017.

The large-cap bank has equity capital of Rs 512.82 crore. Face value per share is Rs 2.

Axis Bank has been asked by Securities and Exchange Board of India (SEBI) to conduct an internal inquiry into the source of alleged leakage of unpublished price sensitive information relating to its financial results and to strengthen its systems.

The bank has been working closely with SEBI during the course of preliminary examination conducted in the matter on leakage of unpublished price sensitive information (UPSI) of listed companies, including that of the bank. The bank adhered to higher norms of governance and reiterated its commitment to adequacy of processes, systems and controls, particularly to prevent unauthorized access to UPSI.

Rajesh Dahiya, Executive Director, Corporate Centre said that the bank will work with SEBI and the best experts in the field to investigate the matter and will take action as appropriate.

Axis Bank's net profit rose 35.5% to Rs 432.38 crore on 0.9% increase in total income to Rs 13820.62 crore in Q2 September 2017 over Q2 September 2016.

Axis Bank is one of the biggest private sector banks in India.

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