
Axis Bank rises over 2% on acquisition of Citibank's India consumer biz
The homegrown bank has completed the acquisition of Citibank’s India consumer and non-banking finance businesses for ₹12,325 crore.
The homegrown bank has completed the acquisition of Citibank’s India consumer and non-banking finance businesses for ₹12,325 crore.
Rate-sensitive stocks slipped in red as the central bank raised the repo rate for the sixth time in a row, which is likely to impact consumption and demand for loans.
Most brokerages have assigned “Buy” ratings to SBI shares after Q3 results, with a potential upside of 28% from the current market price.
The stock price got a boost amid a report that Hinduja Group may increase its stake in IndusInd Bank to 26% from the existing 16.51%.
IT/ITeS and banking sectors have added employees even amidst Covid disruptions.
HDFC Bank shares have gained 7.4% in the last six trading days, hitting a 9-month high of ₹1,702 intraday today.
Axis Bank has reported a 62% YoY rise in its net profit at ₹5,853 crore in Q3 FY23, aided by improvement in operating metrics and asset quality.
The bank reported 31% YoY growth in profit after tax (PAT) at ₹2,792 crore. The asset quality improved, while provisions increased during the quarter.
Reacting to Q3 earnings, Federal Bank shares gained as much as 1.9% to ₹142.85 intraday today.
The country’s largest private sector lender has reported double-digit growth in its net profit, driven by strong improvement in interest income as well as lower provisions.