Axis Bank rose 3.19% to Rs 543.90 at 9:20 IST on BSE after the company said that its board will meet on 10 November 2017 to consider raising of funds by issue of equity/equity linked securities through permissible mode at an appropriate time.
The announcement was made after market hours yesterday, 7 November 2017.Meanwhile, the S&P BSE Sensex was up 88.81 points or 0.27% at 33,459.57.
On the BSE, 59,957 shares were traded on the counter so far as against the average daily volumes of 6.49 lakh shares in the past one quarter. The stock had hit a high of Rs 543.95 and a low of Rs 535.80 so far during the day. The stock had hit a 52-week high of Rs 549 on 3 November 2017 and a 52-week low of Rs 424.60 on 10 January 2017.
The large-cap bank has equity capital of Rs 479.62 crore. Face value per share is Rs 2.
The recent reports had suggested that private equity firm, Bain Capital is in advanced talks with the bank to invest between $750 million and $1 billion. The company had at that time clarified that it will make appropriate disclosures if any decision is taken with regards to capital raising exercise.
Axis Bank's net profit rose 35.5% to Rs 432.38 crore on 0.9% increase in total income to Rs 13820.62 crore in Q2 September 2017 over Q2 September 2016.
Axis Bank is one of the biggest private sector banks in India.
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