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Axis Bank, TCS near all-time high after strong Q4 results

Axis Bank was up 3% to Rs 765, while TCS up 2.4% to Rs 2,245 on BSE, is 1.25 per cent away from its record high level of Rs 2,273 hit on October 1, 2018 in intra-day trade.

Stock markets. Photo: iStock
Stock markets. Photo: iStock

Shares of Axis Bank and Tata Consultancy Services (TCS) were trading close to their respective all-time high levels, after reporting a strong earnings growth for the fourth quarter of fiscal 2018-19 (Q4FY19). Axis Bank was up 3 per cent to Rs 765 on the BSE, after the private sector lender reported a net profit of Rs 1,505 crore for Q4FY19, as against a net loss of Rs 2,189 crore in the year-ago quarter. The strong performance during the quarter comes on back of healthy growth both in interest income and other income, as well as a steep fall in provisions over the previous year ...