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Axis Bank rises after naming Rakesh Makhija as non-executive chairman

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rose 0.23% to Rs 743.95 at 11:22 IST on BSE after the appointed as the non-executive (part-time) of the for three years.

The announcement was made after market hours yesterday, 12 March 2019.

Meanwhile, the S&P was up 97.63 points, or 0.26% to 37,633.29.

On the BSE, 1.78 lakh shares were traded in the counter so far compared with average daily volumes of 5.69 lakh shares in the past two weeks. The stock had hit a high of Rs 750.90 in early trade, which is also record high for the counter. The stock had hit a low of Rs 738.10 so far during the day. The stock hit a 52-week low of Rs 477.50 on 4 April 2018.

said that its board approved the appointment of Rakesh Makhija, as the non-executive (part-time) of the bank, for three years, with effect from 18 July 2019 upto 17 July 2022, subject to the approval of the and the shareholders of the bank. The existing term of Dr. Sanjiv Misra, non-executive (part-time) of the bank will expire with effect from the close of business hours on 17 July 2019.

Axis Bank's net profit rose 131.38% to Rs 1680.85 crore on 26.66% increase in total income to Rs 18130.42 crore in Q3 December 2018 over Q3 December 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 13 2019. 11:23 IST