Axis Bank Ltd.

Axis Bank is currently trading at Rs. 453.90, up by 26.60 points or 6.23% from its previous closing of Rs. 427.30 on the BSE.

The scrip opened at Rs. 439.00 and has touched a high and low of Rs. 454.80 and Rs. 435.40 respectively. So far 1277443 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 826.55 on 06-Jun-2019 and a 52 week low of Rs. 285.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 455.70 and Rs. 401.45 respectively. The current market cap of the company is Rs. 127260.97 crore.

The promoters holding in the company stood at 16.08%, while Institutions and Non-Institutions held 71.45% and 12.46% respectively.

Axis Bank has received approval from its board of directors to acquire 29% stake in Max Life Insurance Company. The Bank will acquire shares from Max Financial Services and will sign a Shareholders’ agreement and a Share Purchase agreement in relation to the same.

The said transaction is subject to satisfaction of conditions precedent, including receipt of regulatory approvals from Reserve Bank of India, Insurance Regulatory and Development Authority of India and Competition Commission of India, among others.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.