Axis Bank rose 0.41% to Rs 544.80 at 14:00 IST on BSE after the bank said that it has reviewed and decided to keep the marginal cost of funds based lending rate unchanged across the tenures with effect from 18 November 2017.
The announcement was made during market hours today,17 November 2017.Meanwhile, the S&P BSE Sensex was up 335.99 points or 1.01% at 33,442.81.
On the BSE, 2.61 lakh shares were traded on the counter so far as against the average daily volumes of 6.76 lakh shares in the past one quarter. The stock had hit a high of Rs 556.90 and a low of Rs 543.75 so far during the day. The stock had hit a 52-week high of Rs 564.60 on 13 November 2017. The stock had hit a 52-week low of Rs 424.60 on 10 January 2017.
The stock had outperformed the market over the past one month till 16 November 2017, gaining 4.2% compared with the Sensex's 1.45% rise. The stock had also outperformed the market over the past one quarter, gaining 8.71% as against the Sensex's 4.2% rise. The scrip had, however, underperformed the market over the past one year, gaining 14.93% as against the Sensex's 25.89% rise.
The large-cap bank has equity capital of Rs 479.62 crore. Face value per share is Rs 2.
The bank's marginal cost of funds based lending rate (MCLR) for overnight loans will be 7.8%, the rate for one month will be 7.8% and for three months it will be 8%. The MCLR on 6-month loans will be 8.15% and for one-year loans the rate will be 8.25%, the bank said. MCLR on two-year loans will be 8.3% and for three-year loans the rate will be 8.35%.
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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