Axis Bank stock down nearly 1%

Shares of Axis Bank today fell by nearly one per cent even as the private sector lender said that contrary to media reports, its MD & CEO Shikha Sharma is not resigning.
The stock ended the day 0.72 per cent lower at Rs 484.50 on BSE. At one point during the morning trade, shares of the company rose by 2.94 per cent to Rs 502.35 but later succumbed to profit-booking. During the day, it slipped 0.79 per cent to Rs 484.10.
On NSE, the stock fell 0.58 per cent to close at Rs 485.45.
The company's market valuation fell by Rs 716.9 crore to Rs 1,15,982.10 crore on BSE.

On the volume front, 18.61 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
"The news appearing in section of social media stating the impending resignation of the MD & CEO of the Bank, which please note is false, speculative and is being circulated with the mala fide intention of misleading the investors and the general public," Axis Bank said informed BSE.
It has been under pressure over a sharp fall in third quarter profits along with Income Tax Department raids on some of its branches post-demonetisation.
The banks had reported 73 per cent decline in net profit to Rs 580 crore for the October-December quarter on account of rise in bad loans.