Axis Bank Ltd.

Government is reportedly planning to sell stake in Axis Bank in tranches. In this regard, the Finance Ministry will float proposal to sell stake in the bank soon. Government undertaking Specified Undertaking of Unit Trust of India (SUUTI) is holding 11.7% stake in the bank.

The bank reported a rise of 18.47% in its net profit after tax at Rs 1842.32 crore for the quarter ended March 31, 2014 as compared to Rs 1555.15 crore for the same quarter in the previous year. Total income of the bank increased by 12.41% at Rs 10178.63 crore for quarter under review as compared to Rs 9054.72 crore for the quarter ended March 31, 2013.