Axis Bank shares rise over 3%; adds Rs 4,259 cr in mcap

Axis Bank's scrip rose by over 4 per cent, adding Rs 4,259 crore to its market capitalisation today, after the company reported 18.3 per cent jump in net profit for the fourth quarter ended March 31, 2014-15.
Shares of the bank gained 3.30 per cent to settle at Rs 552.90 on the BSE. During the day, it surged 4.79 per cent to Rs 560.90.
At the NSE, the stock went up by 3.16 per cent to end at Rs 551.95.
The stock was the biggest gainer among the blue-chips on both Sensex and Nifty.
The company's market valuation rose by Rs 4,259.01 crore to Rs 1,31,141.01 crore.

"Axis Bank reported a good set of numbers for Q4 FY15 with steady asset quality and 18.4 per cent y-o-y growth in profit," said Vaibhav Agrawal, VP Research - Banking, Angel Broking.

Axis Bank today reported 18.3 per cent jump in net profit at Rs 2,180.59 crore for the fourth quarter ended March 31, 2014-15.
The country's third largest private sector lender had posted a net profit of Rs 1,842 crore during the corresponding quarter of 2013-14 fiscal.
Its total income increased to Rs 12,384.39 crore in the fourth quarter of the current financial year as compared to Rs 10,178.63 crore a year ago.

The board recommended 230 per cent or 4.60 dividend on the face value of Rs 2 each for the financial year 2014-15.
For the entire fiscal ended March, 2015, the bank's net profit grew by 18.3 per cent at Rs 7,357.82 crore, compared to Rs 6,217.67 crore during 2013-14.