Axis Bank hits 52-week high post Q3 results

The stock moved higher to its 52-week high of Rs 621, up 5% on BSE in noon deal, after the bank reported improved assets quality in Q3FY18 sequentially.

Axis Bank has moved higher to its 52-week high of Rs 621, up 5% on BSE in afternoon deal, after the bank reported improved assets quality in October-December 2017 quarter (Q3FY18) sequentially.

“The Bank’s gross non-performing assets ratio (NNPA) reduced quarter on quarter (QOQ) from 5.90% to 5.28% and net NPA from 3.12% to 2.56%,” Axis Bank said in a statement.

The gross NPA and net NPA ratio stood at 5.22% and 2.18%, respectively as on Q3FY17.

As on Q3FY18, the Bank’s GNPA stood at Rs 250 billion and NNPA stood at Rs 118