Reuters Market Eye - Axis Bank shares rise 3.7 percent after the bank posts better-than-expected March quarter results. Results, which came on Wednesday, showed net profit was at 15.55 billion rupees versus estimates of 12.77 billion rupees.
Other banking shares also rise with the NSE banking index trading up 1.3 percent. SBI rises 1.3 percent, Punjab National Bank up 1.3 percent, Union Bank gains 3 percent.
Investors broadly bullish on rate-sensitive stocks such as banks ahead of the RBI's monetary policy on May 3 where it is widely expected to cut rates by 25 basis points.
(Reporting by Swati Bhat)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app