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Axis Bank Gains 5%; BSE BANKEX Index Up 0.9%
Fri, 18 Oct 10:35

Axis Bank Gains 5%; BSE BANKEX Index Up 0.9%Image source: DNY59/www.istockphoto.com

Axis Bank share price has zoomed 5% and is presently trading at Rs 1,184.1.

Meanwhile, the BSE BANKEX index is at 58,754.9 (up 0.9%).

Among the top gainers in the BSE BANKEX index today are Bank of Baroda (up 1.1%) and ICICI Bank (up 0.8%).

AU SMALL FINANCE BANK (down 0.7%) and HDFC Bank (down 0.5%) are among the top losers today.

Over the last one year, Axis Bank has moved up from Rs 1,005.2 to Rs 1,184.1, registering a gain of Rs 178.9 (up 17.8%).

On the other hand, the BSE BANKEX index has moved up from 49,714.3 to 58,754.9, registering a gain of 18.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 40.9%), Federal Bank (up 30.8%) and ICICI Bank (up 30.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,780.7 (down 0.3%).

The top losers among the BSE Sensex today are Infosys (down 4.1%) and Tech Mahindra (down 2.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,741.6 . Infosys and ITC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,166.9 to 80,780.7, registering a gain of 14,613.8 points (up 22.1%).

Axis Bank Financial Update...

Axis Bank net profit grew 19.2% YoY to Rs 74,089 million for the quarter ended September 2024, compared to a profit of Rs 62,177 million a year ago. Net sales rose 15.3% to Rs 316,011 million during the period as against Rs 274,175 million in July-September 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 13.1.

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