Axis Bank shares edge lower amid block deal; Bain Capital likely seller
The U.S.-based private equity firm Bain Capital looks to exit from Axis Bank by selling its remaining stake at ₹1,071- ₹1,076.05 per share via block deal today.
The U.S.-based private equity firm Bain Capital looks to exit from Axis Bank by selling its remaining stake at ₹1,071- ₹1,076.05 per share via block deal today.
State Bank of India shares gained as much as 6.4% to hit a record high of ₹718.80 intraday today, while the m-cap surged to ₹6.36 lakh crore.
The share price of Canara Bank has doubled in the last one year, from its 52-week low of ₹268.85 on Feb 24, 2023, to ₹550.50 today.
Indian Overseas Bank shares gained as much as 7.9% to hit a fresh 52-week high of ₹56.22 on the BSE, while the m-cap surged to ₹1.2 lakh crore.
The PSU lender has risen over 12% in the last four sessions, touching its fresh 52-week high of ₹110.95 in intraday trade today.
LIC of India will become the largest shareholder in HDFC Bank after the acquisition of an additional 4.8% shares in the lender, raising its holding stake to 9.99%.
The Q3 profit grew multi-fold from ₹51 crore in the year ago period, aided by sharp decline in provisions, credit growth, and higher income.
Axis Bank’s Q3 profit of ₹6,071 crore was slightly short of the market expectations, while NII was mostly in line with projections.
10.15 crore equity shares of Indian Bank, allotted to qualified institutional buyers (QIBs), got listed on the stock exchanges today.
The market cap of PNB crossed ₹1.01 lakh crore today after the shares of the PSU lender rose 2.1% to hit a fresh 52-week high of ₹91.81 intraday.