AXIS Bank gains on entry in Sensex

AXIS Bank rose 1.49% to Rs 1295.75 at 12:25 IST on BSE, as the stock replaced Jindal Steel & Power as a constituent of the S&P BSE Sensex with effect from today, 23 December 2013.

Shares of Jindal Steel & Power (JSPL) were up 3.17% at Rs 258.50.

Meanwhile, the S&P BSE Sensex was up 70.32 points or 0.33% at 21,150.04.

On BSE, so far 1.1 lakh AXIS Bank shares changed hands, compared with average daily volume of 3.61 lakh shares in the past one quarter.

The stock hit a high of Rs 1,304.70 and a low of Rs 1,282 so far during the day. The stock had hit a 52-week high of Rs 1,549 on 20 May 2013. The stock had hit a 52-week low of Rs 764 on 4 September 2013.

The stock had outperformed the market over the past one month till 20 December 2013, surging 12.85% compared with the Sensex's 2.15% rise. The scrip had also outperformed the market in past one quarter, jumping 15.74% as against Sensex's 4.03% rise.

The large-cap bank has equity capital of Rs 469.24 crore. Face value per share is Rs 10.

AXIS Bank's net profit rose 21.3% to Rs 1362.31 crore on 13.2% growth in total income to Rs 9375.08 crore in Q2 September 2013 over Q2 September 2012.

AXIS Bank is the third largest private sector bank in India. With its 2,021 domestic branches (including extension counters) and 11,488 ATMs across the country, as on 30 June 2013, the network of AXIS Bank spreads across 1,300 cities and towns. The bank also has overseas offices in UK, Singapore, Hong Kong, Shanghai, Colombo, Dubai and Abu Dhabi.

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