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Axis Bank Gains 2%; BSE BANKEX Index Up 1.8%
Wed, 3 Jul 15:25

Axis Bank Gains 2%; BSE BANKEX Index Up 1.8%Image source: Sakorn BernardaSv/www.istockphoto.com

Axis Bank share price has zoomed 2% and is presently trading at Rs 1,279.7.

Meanwhile, the BSE BANKEX index is at 60,382.6 (up 1.8%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 3.8%) and IDFC FIRST BANK (up 2.5%).

AU SMALL FINANCE BANK (down 1.4%) is among the top losers today.

Over the last one year, Axis Bank has moved up from Rs 982.1 to Rs 1,279.7, registering a gain of Rs 297.6 (up 30.3%).

On the other hand, the BSE BANKEX index has moved up from 50,894.9 to 60,382.6, registering a gain of 18.6% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 43.6%), Federal Bank (up 42.4%) and Bank of Baroda (up 34.5%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 80,010.5 (up 0.7%).

The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 2.6%) and Kotak Bank (up 2.4%). The most traded stocks in the BSE Sensex are SBI and Tata Steel.

In the meantime, NSE Nifty is at 24,293.4 (up 0.7%). Tata Consumer Products and Kotak Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 80,010.5, registering a gain of 14,805.4 points (up 22.7%).

Axis Bank Financial Update...

Axis Bank net profit grew 241.7% YoY to Rs 76,136 million for the quarter ended March 2024, compared to a loss of Rs 53,712 million a year ago. Net sales rose 22.7% to Rs 302,306 million during the period as against Rs 246,297 million in January-March 2023.

For the year ended March 2024, Axis Bank reported 143.9% increase in net profit to Rs 263,862 million compared to net profit of Rs 108,185 million during FY23. Revenue of the company grew 28.9% to Rs 1,127,591 million during FY24.

The current Price to earnings ratio of Axis Bank, based on rolling 12 month earnings, stands at 15.0.

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