Axis Bank gains on good Q2 result

Axis Bank rose 2.13% to Rs 410.50 at 9:41 IST on BSE after the bank's net profit rose 18.23% to Rs 1610.71 crore on 12.53% growth in total income to Rs 10549.97 crore in Q2 September 2014 over Q2 September 2013.

The bank announced Q2 results after market hours on Friday, 17 October 2014.

Meanwhile, the BSE Sensex was up 339.65 points or 1.3% at 26,436.21.

On BSE, so far 93,066 shares were traded in the counter, compared with an average volume of 3.6 lakh shares in the past one quarter.

The stock hit a high of Rs 416 and a low of Rs 410.20 so far during the day. The stock hit a record high of Rs 423.70 on 11 September 2013. The stock hit a 52-week low of Rs 202.33 on 13 November 2013.

The stock had outperformed the market over the past one month till 16 October 2014, rising 0.9% compared with 1.86% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.8% as against Sensex's 1.76% rise.

The large-cap private sector bank has an equity capital of Rs 471.98 crore. Face value per share is Rs 2.

The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 1.34% as on 30 September 2014, unchanged from 30 June 2014, but higher than 1.19% as on 30 September 2013. The ratio of net NPAs to net advances stood at 0.44% as on 30 September 2014, unchanged from 30 June 2014, but higher than 0.37% as on 30 September 2013.

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