Shares of Axis Bank today rose by over 3 per cent ahead of the company's board meet on Friday to consider raising of funds.
The stock jumped 3.41 per cent to settle at Rs 545.05 on BSE. During the day, it soared 4.63 per cent to Rs 551.55 -- its 52-week high.
Axis Bank was the biggest gainer among the 30-bluechip scrips.
On NSE, shares of the company rose by 3.35 per cent to close at Rs 544.85.
In terms of equity volume, 8.32 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.
"A meeting of the Board of Directors of Axis Bank will be held on Friday to inter-alia, consider raising of funds by issue of equity/equity linked securities through permissible mode at an appropriate time," the company had said in a BSE filing yesterday.
In the event the Board decides in favour of raising of funds through a particular mode, the shareholders' approval shall be obtained in relation to the same in accordance with the relevant provisions of the Companies Act, 2013 and the relevant Rules made thereunder, it added.
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