Axis Bank hits 52-week high after launching QIP issue

The announcement was made after market hours on Monday, 28 January 2013.

Meanwhile, the BSE Sensex was down 54.78 points, or 0.27%, to 20,048.57.

On BSE, 3.31 shares were traded in the counter as against an average daily volume of 1.77 lakh shares in the past one quarter.

The stock hit a high of Rs 1,483 so far during the day The stock hit a low of Rs 1,418.50 so far during the day. The stock had hit a 52-week low of Rs 922 on 18 May 2012.

The stock had outperformed the market over the past one month till 28 January 2013, rising 4.16% compared with the Sensex's 3.39% rise. The scrip had also outperformed the market in past one quarter, rising 14.93% as against Sensex's 7.94% rise.

The large-cap private sector bank has an equity capital of Rs 427.16 crore. Face value per share is Rs 10.

According to reports, Axis Bank is offering 3.99 crore shares at Rs 1390 per share to institutional investors and promoters. The bank is planning to sell 3.40 crore shares through a qualified institutional placement (QIP). The bank had decided to allot the remaining 59 lakh shares to promoters on a preferential basis, reports added.

Axis Bank net profit rose 22.22% to Rs 1347.22 crore on 19.05% growth in total income to Rs 8580.30 crore in Q3 December 2012 over Q3 December 2011.

Axis Bank provides commercial banking services which include merchant banking, direct finance, infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury, investment banking, insurance, credit cards, mortgage financing, depository services and other related financial services.

Powered by Capital Market - Live News