Axis Bank strikes 52-week high on good Q3 outcome

Axis Bank declared Q3 December 2012 result during market hours today, 15 January 2013.

Meanwhile, the BSE Sensex was up 14.80 points or 0.07% at 19,921.21

On BSE, 1.99 lakh shares were traded in the counter as against average daily volume of 2.04 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 1,419.90 in intraday trade today, 15 January 2013. The stock hit a low of Rs 1,390.05 so far during the day. The stock had hit a 52-week low of Rs 917.10 on 16 January 2012.

The stock had underperformed the market over the past one month till 14 January 2013, rising 2.42% compared with the Sensex's 3.05% rise. The scrip had, however, outperformed the market in past one quarter, rising 23.71% as against Sensex's 6.59% rise.

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

Axis Bank's provisions and contingencies fell to Rs 386.83 crore in Q3 December 2012 from Rs 422.33 crore in Q3 December 2011.

The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 1.1% as on 31 December 2012, same as 1.1% as on 31 December 2011 and 1.1% as on 30 September 2012. The ratio of net NPA to net advances stood at 0.33% as on 31 December 2012, lower than 0.39% as on 31 December 2011 and same as 0.39% as on 30 September 2012.

The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 13.73% as on 31 December 2012 compared to 11.78% as on 31 December 2011 and 12.99% as on 30 September 2012.

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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