Tag: axis bank

The acquisition of Citibank’s India consumer business by Axis Bank did not elicit much enthusiasm in the opening trades on the NSE and BSE. Shares of Axis Bank opened 1.6 percent higher at Rs 763, and have traded sideways so far in the day. Axis Bank’s 52-week high stands at Rs 866.90 recorded in November 2021. The stock trades 19 percent higher from its recent low of Rs 637. Any positive fundamental development on the business front, adds value, and the same impacts are reflected in the share price. It is largely felt by the investors that the stock price moving higher in the future. Read more

Indian benchmark indices opened lower today(27th December 2021) amid weak sentiment. The BSE Sensex was trading nearly 500 points down to quote at 56,618 level while the Nifty50 was at 16,891, down 158 points. In the broader markets, the BSE MidCap and SmallCap indices were also in the red zone, trading 1 percent lower. Among individual stocks that comprise the Sensex, IndusInd Bank, Bajaj Finance, Bajaj Finserv, Asian Paints, Maruti Suzuki, and Axis Bank were among the top losers that slipped 0.7 percent to 4.6 percent. RBL Bank lost 15 percent to Rs 146 levels after the bank said over the weekend that Vishwavir Ahuja, its managing director, and chief executive officer, had gone on leave after the Reserve Bank of India appointed Yogesh K Dayal as an additional director of the bank. Action for RBL is important in light of the problems encountered by private lenders like YES Bank and Lakshmi Vilas Bank last year. Read more

Indian equities extended their buying spree into the third straight session today(3rd December 2021) amid broad-based buying. The S&P BSE Sensex advanced 253 points, or 0.43 percent, at 58,714 levels in early deals. The NSE Nifty, meanwhile, was at 17,461, up 60 points. L&T, BPCL, Axis Bank, and Kotak Bank, were the top gainers on the 50-pack index while Nestle India, Hindalco, Tata Consumer Products, Bajaj Auto, and HUL were the top laggards. In the broader markets, the BSE MidCap and SmallCap index rose 0.34 percent and 0.5 percent, respectively.

The current market sentiment is uncertain and may provide opportunities in major stocks. Here are five bank stocks that look good on the technical charts for a 10 percent upside in one month. 1. State Bank of India Likely target: Rs 530 Upside potential: 8% The shares of the banking major took support at its 50-day moving average (DMA), located at Rs 479 recently. As long as this support is defended, the positive bias may help resume an upward momentum towards Rs 530, its next major hurdle, according to the daily chart. The Moving Average Convergence Divergence (MACD) has reached near the zero line and if shows a similar reversal like stock price, the direction and leadership may show an aggressive bullish sentiment. Read more

The 65 percent decline in Maruti Suzuki Q2 profit could not drag the auto stock any further. Instead, the stock rose 0.40 percent, on a bad day for the market, to close at Rs 7,325.20 on the BSE. The company said adverse commodity prices and lower sales volume due to electronic component shortages impacted its performance in the September quarter. What might have lifted sentiment is the fact that the company had more than 2,00,000 pending customer orders at the end of the quarter. Analyst views are awaited though. Asian Paints climbed 4.43 percent to Rs 3,094.40 after a couple of brokerages said their interactions with dealers suggest the paintmaker plans to execute another 15-45 percent price increase, effective November 12. This is in addition to the recent 7.5 percent price increases, they said. Read more

After a volatile start, the benchmark indices gained ground to trade on a firm footing amid gains in banking stocks. A firm start for the European markets also helped the market sentiments. The BSE Sensex reclaimed the 61,000 mark and was up 291 points or 0.48 percent at 61,113. Meanwhile, NSE Nifty traded at 18,169, 55 points or 0.3 percent higher. ICICI Bank, Axis Bank, and SBI were the top Sensex contributors. The broader markets, on the other hand, languished with the BSE Midcap and Smallcap indices down over 1 percent each. The Nifty Bank hit a fresh 52-week high. Realty and IT counters were off day's low but still down 1 percent and worst losers. The BSE index after touching a low of 60,450, bounced back into the positive zone as ICICI Bank and select banking shares extended gains. The Sensex finally snapped its 4-day losing streak and ended 145 points higher at 60,967. Read more

Since April 2021 the NIFTY BANK index has faced resistance at higher levels and has been unable to cross 36,000 levels, as per the weekly setup. The recent momentum, however, has propelled Nifty Bank above the said resistance and there are chances that it can see 36,750 levels in the days ahead, as per the daily chart. The overall structure of weekly and daily charts suggests a positive rally that could see Nifty Bank surpass 37,000 levels and gain more ground. The immediate support comes at 35,500 levels. NIFTYBANK Likely target: 36,750 and 37,000 Upside potential: 2% to 2.50% Read more

Shares of Private sector lender Axis Bank gained 4 per cent after the Bank raised Rs 10,000 crore via allotment of equity shares to qualified institutional buyers (QIB). Axis Bank had set a floor price of Rs 442.19 per equity share for its proposed Rs 15,000-crore qualified institutional placement (QIP). A committee of Whole-Time Directors decided to close the issue on August 10, 2020, and accorded its consent for the issue of 238,038,560 equity shares of Rs 2 each of the bank at a price of Rs 420.10 per equity share. This takes into account a discount of 5 per cent, to the floor price of Rs 442.19 per equity share, aggregating to Rs 10,000 crore, to successful eligible qualified institutional buyers, it stated. The board of the bank had last month approved the Rs 15,000 crore fundraise plan. The QIP was okayed by shareholders at the annual general meeting held on July 31, 2020, the bank said.

Axis Bank shares declined 6.1 percent to Rs 427.5 on the BSE today, 29th April 2020 after the bank made massive Rs 7,730 crore provisions in the March quarter of FY20 (Q4FY20), of which Rs 3,000 crore worth provisions were due to coronavirus (Covid-19)-induced uncertainty. This pushed the bank in the red zone, with the lender posting a surprise Rs 1,388-crore net loss in the recently concluded quarter. At 10:10 am, the stock was trading 5 percent lower at Rs 432.35 apiece on the BSE, as against a 0.84 percent rise in the benchmark S&P BSE Sensex. Nearly 19.68 million shares have changed hands on the counter on the NSE and BSE at 10:20 am. Historically, Q4 is the first time since March 2018 that the bank has dipped into losses of this magnitude because of the provisioning cost. The September 2019 quarter’s loss was due to the adjustment of deferred tax assets. Read more