Axis Bank rises after block deal

Axis Bank added 0.52% to Rs 1,080.75, following block deal in pre-opening trade today, 9 April 2024.

On the BSE 3.36 crore shares of the company has traded in the counter so far as against an average trading volume 7.54 lakh shares in the past two weeks.

On the NSE, 1.13 crore shares of the company were traded in the counter so far as against an average trading volume 1 crore shares in the past three months.

About 4,58,401 equity shares worth Rs 49.33 crore in the company, changed hands on the NSE, exchange data shows. The names of the buyers and sellers were not ascertained immediately.

The stock hit 52-week high at Rs 1,151.85 on 5 December 2023 and 52-week low of Rs 843.95 on 10 April 2023.

The media reports indicated that the private equity firm, Bain Capital was looking to mark its exit from the private lender by selling 3.34 crore shares worth $431 million through block deal.

As on December 2023, promoter & promoter group held 8.20% stake in the company.

Axis Bank provides a complete suite of banking and financial services including retail banking, wholesale banking and treasury operations. The bank company reported 3.72% rise in standalone net profit to Rs 6071.10 crore on 25.06% increase in total income to Rs 33515.96 crore in Q3 FY24 over Q3 FY23.

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