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Axis Bank Gains 4%; BSE BANKEX Index Up 2.0%
Tue, 25 Jun 15:35

Axis Bank Gains 4%; BSE BANKEX Index Up 2.0%Image source: phive2015/www.istockphoto.com

Axis Bank share price has zoomed 4% and is presently trading at Rs 1,273.5.

Meanwhile, the BSE BANKEX index is at 59,868.1 (up 2.0%).

Among the top gainers in the BSE BANKEX index today are ICICI Bank (up 2.9%) and HDFC Bank (up 2.3%).

Bank of Baroda (down 0.3%) and IDFC FIRST BANK are among the top losers today.

Over the last one year, Axis Bank has moved up from Rs 965.9 to Rs 1,273.5, registering a gain of Rs 307.6 (up 31.8%).

On the other hand, the BSE BANKEX index has moved up from 49,545.7 to 59,868.1, registering a gain of 20.8% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 48.6%), Federal Bank (up 42.5%) and Bank of Baroda (up 41.3%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 78,080.2 (up 1.0%).

The top gainers among the BSE Sensex today are ICICI Bank (up 2.9%) and HDFC Bank (up 2.3%). The most traded stocks in the BSE Sensex are HDFC Bank and Power Grid Corp..

In the meantime, NSE Nifty is at 23,721.9 (up 0.8%). Shriram Transport and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,523.2 to 78,080.2, registering a gain of 14,557.0 points (up 22.9%).

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 2023, Axis Bank reported 23.4% decrease in net profit to Rs 108,185 million compared to net profit of Rs 141,193 million during FY22. Revenue of the company grew 27.0% to Rs 874,484 million during FY23.

The current Price to earnings ratio of Axis Bank, based on rolling 12 month earnings, stands at 14.9.

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