Axis Bank scales 52-week high

Meanwhile, the BSE Sensex was up 149.21 points or 0.76% at 19,730.02.

On BSE, 99,000 shares were traded in the counter as against average daily volume of 2.17 lakh shares in the past one quarter.

The stock hit a high of Rs 1,394.40 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 1,367.50 so far during the day. The stock had hit a 52-week low of Rs 784.50 on 2 January 2012.

The stock had outperformed the market over the past one month till 1 January 2013, rising 3.48% compared with the Sensex's 1.25% rise. The scrip had also outperformed the market in past one quarter, jumping 20.48% as against Sensex's 4.02% gain.

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

Shares of Axis Bank have risen 2.32% in two trading sessions from Rs 1,356.50 on 31 December 2012 after the bank after market hours on 31 December 2012 said its board has passed a resolution approving allotment of Unsecured Redeemable Non-Convertible Subordinated Debentures aggregating Rs 2500 crore (including green shoe option of Rs 1500 crore) on private placement basis as the bank's Lower Tier II capital. The stock had risen 0.42% to settle at Rs 1,362.20 on Tuesday, 1 January 2013.

Axis Bank on 17 December 2012, said its board of directors approved raising Tier-I capital of the bank by issue of equity shares not exceeding 4.58 crore equity shares through GDRs/QIP issue and preferential issue to promoters of the bank.

Axis Bank's net profit rose 22.1% to Rs 1123.54 crore on 27.2% growth in total income to Rs 8280.29 crore in Q2 September 2012 over Q2 September 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.

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