Axis Bank Ltd Share Price – NSE  /  BSE

Banks, Mid Cap

Axis Bank Ltd rose for a fifth straight session today. The stock is quoting at Rs 1015.6, up 0.7% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.21% on the day, quoting at 19835.3. The Sensex is at 65983.86, up 0.02%. Axis Bank Ltd has added around 2.67% in last one month.

Meanwhile, Nifty Bank index of which Axis Bank Ltd is a constituent, has added around 1.99% in last one month and is currently quoting at 43769.1, up 0.29% on the day. The volume in the stock stood at 27.26 lakh shares today, compared to the daily average of 61.01 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 1017.75, up 0.73% on the day. Axis Bank Ltd is up 13.79% in last one year as compared to a 6.54% jump in NIFTY and a 1.96% jump in the Nifty Bank index.

The PE of the stock is 14.02 based on TTM earnings ending September 23.

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Axis Bank has allotted 1,14,879 equity shares under ESOP on 21 November 2023. With this allotment, the paid up equity share capital of the Bank has increased to Rs. 6,16,52,20,630 (3,08,26,10,315 equity shares of Rs. 2/- each).

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Axis Bank Ltd lost 0.93% today to trade at Rs 985.3. The S&P BSE BANKEX index is down 0.25% to quote at 49048.19. The index is down 0.28 % over last one month. Among the other constituents of the index, Federal Bank Ltd decreased 0.44% and Kotak Mahindra Bank Ltd lost 0.35% on the day. The S&P BSE BANKEX index went up 1.04 % over last one year compared to the 6.62% surge in benchmark SENSEX.

Axis Bank Ltd has added 0.51% over last one month compared to 0.28% fall in S&P BSE BANKEX index and 0.54% rise in the SENSEX. On the BSE, 36425 shares were traded in the counter so far compared with average daily volumes of 1.98 lakh shares in the past one month. The stock hit a record high of Rs 1047.45 on 20 Sep 2023. The stock hit a 52-week low of Rs 814.25 on 16 Mar 2023.

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The central bank imposed a penalty of Rs 90.92 lakh on Axis Bank Bank for non-compliance with certain directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’, ‘Loans and Advances – Statutory and Other Restrictions’, ‘Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’ and ‘Code of Conduct for Opening and Operating Current Accounts’.

According to RBI inspection, the Axis Bank failed to preserve records pertaining to the identification of customers and their address in certain cases, the bank made persistent calls to some of the customers, it has failed to ensure appropriate behaviour of recovery agents with some of the delinquent borrowers and it also failed to ensure a tape recording of the content/text of the calls made by the recovery agents to some of the customers and bank did not obtain declarations from the customer at the time of opening of current accounts.

Further, RBI imposed a penalty of Rs 42.78 lakh on Manappuram Finance for non-compliance with certain provisions of the “Non-Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016”.

According to the apex bank's inspection, the company has failed to comply with the RBI’s directions on payment to certain borrowers the surplus amounts realised by auction of gold articles pledged by those borrowers during the period from 1 April 2021 to 30 September 2022.

Axis Bank is the third-largest private sector bank in India. As on 30 September 2023, the bank had a network of 4,760 domestic branches, extension counters situated in 2,676 centres and 15,806 ATMs and cash recyclers spread across the country. The bank's Axis Virtual Centre is present across six centres with over 1,500 virtual relationship managers as on 30 September 2023.

Manappuram Finance is a Non-Banking Finance Company (‘NBFC’), which provides a wide range of fund based and fee based services including gold loans, money exchange facilities, etc. The Company is a Systemically Important Non-Deposit taking NBFC(NBFC-ND). The Company is registered with the Reserve Bank of India (RBI).

Shares of Axis Bank slipped 3.09 % to settle at Rs 993.95, Manappuram Finance fell 3.34% to close at Rs 155.05.

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