Axis Bank spurts on better Q2 numbers

DALAL STREET SPIKES

Axis Bank jumped 20 per cent to close at Rs 662.90 after the bank reported a 77 per cent rise in net profit to Rs 402.91 crore in Q2 FY09. Total income went up by 57.30 per cent to Rs 3,239.45 crore.

As per reports, the bank will set up an asset management company in association with Geneva-based private banking group LCF Rothschild to provide investment advisory services in India. The stock recoded an intraday high of Rs 675 and a low of Rs 560 with a trading volume of 12,75,492 shares.