Axis Bank rises on entering into a tie-up with UAE Exchange and Financial Services

Axis Bank Ltd. | Bank - Private | BFSI | BSE: 532215 | NSE: AXISBANK

05 Jul 2012 Evaluate

Axis Bank is currently trading at Rs. 1045.20, up by 3.05 points or 0.29% from its previous closing of Rs. 1042.15 on the BSE.

The scrip opened at Rs. 1040.00 and has touched a high and low of Rs. 1049.00 and Rs. 1031.65 respectively. So far 2,77,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1367.10 on 01-Aug-2011 and a 52 week low of Rs. 784.50 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 1051.45 and Rs. 987.05 respectively. The current market cap of the company is Rs. 43,251.00 crore.

The promoters holding in the company stood at 37.38% while Institutions and Non-Institutions held 46.34% and 7.74% respectively.

In a bid to provide add on service to its customers, Axis Bank has entered into a tie-up with UAE Exchange and Financial Services to launch inward remittances through mobile. Under this tie-up, people can send money through any agent locations of UAE Exchange and Financial Services called Xpress Money to a registered mobile number in the country. Xpress Money has 1.35 lakh agent locations operational in 125 countries.

The receiver with the help of codes sent to their registered mobile number can withdraw the money from any of the Axis Bank ATMs. But for the above process the receiver will first have to register himself once at any of Axis Bank branch. This process will also help customer by eliminating the need to visit physical agents and provide documentation every time.

Besides, in a calendar year the beneficiary can receive a maximum of 30 transactions while the maximum amount one can receive at present is capped at Rs 18,000, per remittance transaction.

Axis Bank Share Price

1271.05 1.65 (0.13%)

11-May-2026 16:01 View Price Chart

Peers

Company Name	CMP
HDFC Bank	764.55
ICICI Bank	1266.15
Axis Bank	1271.05
Kotak Mahindra Bank	381.30
Indusind Bank	922.20
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