Axis Bank Ltd Share Price – NSE  /  BSE

Banks, Mid Cap

The domestic equity benchmarks traded near the flatline with some minor losses in afternoon trade. The Nifty traded below the 24,400 level. Metal, private bank and realty shares declined while oil & gas, media and auto shares advanced. Trading could be volatile due to the expiry of monthly index options on the NSE.

At 13:27 IST, the barometer index, the S&P BSE Sensex, was down 110.37 points or 0.14% to 80,038.51. The Nifty 50 index shed 19.65 points or 0.08% to 24,393.85.

In the broader market, the S&P BSE Mid-Cap index fell 0.19% and the S&P BSE Small-Cap index added 0.06%.

The market breadth was positive. On the BSE, 2,085 shares rose and 1,738 shares fell. A total of 118 shares were unchanged.

Gainers & Losers:

Tata Motors (up 5.27%), Oil & Natural Gas Corporation (up 3.19%), SBI Life Insurance Company (up 2.84%), Larsen & Toubro (up 2.77%) and Bharat Petroleum Corporation (up 2.73%) were major Nifty gainers.

Axis Bank (down 6.48%), Nestle India (down 3%), Titan Company (down 2.49%), Shriram Finance (down 1.97%) and Hindalco Industries (down 1.89%) were major Nifty losers.

Larsen & Toubro (L&T) advanced 2.77% after the EPC major's consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24.

Axis Bank tumbled 6.48%. The bank reported 4.1% rise in standalone net profit to Rs 6,034.64 crore on 16.97% increase in total income to Rs 35,844.22 crore in Q1 FY25 over Q1 FY24.

Stocks in Spotlight:

SBI Life Insurance Company added 2.77% after the company reported 36.34% surge in net profit to Rs 519.52 crore in Q1 FY25 from Rs 381.04 crore posted in Q1 FY24. Total income was at Rs 34,392.05 crore in the quarter ended 30 June 2024, registering a growth of 24.2% year on year (YoY).

JK Paper dropped 7.79% after its consolidated net profit tumbled 54.73% to Rs 139.72 crore in Q1 FY25 as against Rs 308.67 crore posted in same quarter last year. Revenue from operations rose 8.16% year on year (YoY) to Rs 1,713.65 crore in the quarter ended 30 June 2024.

Craftsman Automation slipped 2.11% after the company reported 28.6% fall in consolidated net profit to Rs 53.19 crore in Q1 FY25 from Rs 74.48 crore in Q1 FY24. Net sales increased by 10.9% year-over-year (YoY) to Rs 1,151.19 crore in the first quarter of 2024-25.

Rail Vikas Nigam (RVNL) declined 2.05%. The company said that it has received letter of acceptance from the Electrical Division of the South Eastern Railway for a project worth Rs 191.53 crore.

Global Markets:

European stocks tumbled and most Asian stocks traded lower on Thursday as investors took a breather from the AI-fueled rally that has propelled stocks higher this year. Japan and South Korea both saw declines of over 2%, with chipmaker SK Hynix Inc. leading the downturn despite strong earnings.

The US market suffered a significant setback, with the S&P 500 plunging 2.3% — its worst day since December 2022. This marked the end of the longest period without a 2% drop since the 2008 financial crisis. The tech-heavy Nasdaq 100 plummeted 3.64%, dragged down by its largest components. Alphabet Inc. fell 5% after revealing higher-than-expected spending on its AI initiatives. Tesla Inc.'s stock plunged 12% following a disappointing profit report and delay of its robotaxi service. Nvidia Corp. also dropped 6.8%. The slump in the Magnificent Seven tech giants triggered a broad market sell-off. The Dow Jones Industrial Average also declined 1.25%.

Powered by Capital Market - Live News

Axis Bank Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1158.8, down 6.49% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.09% on the day, quoting at 24392.1. The Sensex is at 80039.95, down 0.14%.Axis Bank Ltd has lost around 9.85% in last one month.Meanwhile, Nifty Bank index of which Axis Bank Ltd is a constituent, has eased around 3.86% in last one month and is currently quoting at 51317, down 0.95% on the day. The volume in the stock stood at 231.79 lakh shares today, compared to the daily average of 90.57 lakh shares in last one month.

The benchmark July futures contract for the stock is quoting at Rs 1157.55, down 6.51% on the day. Axis Bank Ltd jumped 18.63% in last one year as compared to a 23.33% rally in NIFTY and a 10.35% spurt in the Nifty Bank index.

The PE of the stock is 15.41 based on TTM earnings ending March 24.

Powered by Capital Market - Live News

The GNPAs as on 30 June 202 stood at Rs 18,158.23 crore.

The bank reported 4.1% rise in net profit to Rs 6,034.64 crore on 16.97% increase in total income to Rs 35,844.22 crore in Q1 FY25 over Q1 FY24.

Net interest income (NII) grew 12% YoY to Rs 13,448 crore during the quarter. Net interest margin (NIM) stood at 4.05% in Q1 FY25 compared with 4.10% posted in same quarter last year.

Profit before tax in June 2024 quarter stood at Rs 8,066.96 crore, registering an increase of 3.7% YoY.

Operating profit before provisions & contingencies increased 14.66% YoY to Rs 10,106.24 crore for the quarter. The bank's provisions and contingencies zoomed 97.05% to Rs 2,039.28 crore from Rs 1,034.88 crore posted in same quarter last year.

The bank holds cumulative provisions (standard + additional other than NPA) of Rs 11,732 crore at the end of Q1 FY25, over and above the NPA provisioning included in PCR calculations. These cumulative provisions translate to a standard asset coverage of 1.20% as on 30 June 2024. On an aggregated basis, provision coverage ratio (including specific + standard and other provisions) stood at 150% of GNPA as on June 2024.

Credit cost for the quarter ended 30 June 2024 stood at 0.97% as against 0.50% posted in June 2023 quarter.

The ratio of gross NPAs reduced to 1.54% as on 30 June 2024 as against 1.96% as on 30 June 2023.

The ratio of net NPAs declined to 0.34% as on 30 June 2024 as against 0.41% as on 30 June 2023.

As on 30 June, 2024, the bank’s provision coverage, as a proportion of gross NPAs stood at 78%, as compared to 80% as at 30 June 2023.

The fund based outstanding of standard restructured loans implemented under resolution framework for COVID-19 related stress (Covid 1.0 and Covid 2.0) declined during the quarter and as at June 2024 stood at Rs 1,409 crore that translates to 0.13% of the gross customer assets. The bank carries a provision of around 20% on restructured loans, which is in excess of regulatory limits.

Gross slippages during the quarter were Rs 4,793 crore, compared to Rs 3,471 crore in Q1 FY24.

The bank's net advances grew 14% YoY to Rs 9,80,092 crore and total deposits jumped 13% YoY to Rs 10,62,484 crore as on June 2024.

As on 30 June 2024, CASA deposits rose 4% YoY to Rs 4,44,479 crore while CASA deposits as % of total deposits stood at 42% as on June 2024 as against 46% as on June 2023.

As on June 2024, capital adequacy ratio (basel III) stood at 16.65%. Tier I was at 14.52% and Tier II at 2.13%.

The bank's return on average assets (ROA) and Return on equity (ROE) stood at 1.65% and 16.26%, respectively in the quarter ended 30 June 2024.

Axis Bank is the third-largest private sector bank in India. During the quarter, the bank added 50 branches taking its overall distribution network to 5,427 domestic branches and extension counters situated across 2,987 centres and 15,014 ATMs and cash recyclers spread across the country. The bank's Axis Virtual Centre is present across six centres with over 1,600 virtual relationship managers as on June 2024.

Powered by Capital Market - Live News

The key benchmark indices traded with significant losses in early trade following global markets. The Nifty traded below the 24,450 mark. barring media all the sectoral indices on the NSE were traded in red. Trading could be volatile due to the expiry of monthly index options on the NSE.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was down 520.91 points or 0.65% to 79,646.55. The Nifty 50 index shed 24.80 points or 0.16% to 24,439.30.

In the broader market, the S&P BSE Mid-Cap index shed 0.62% and the S&P BSE Small-Cap index rose 0.02%.

The market breadth was negative. On the BSE, 1,286 shares rose and 1,551 shares fell. A total of 116 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 5,130.90 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 3,137.30 crore in the Indian equity market on 24 July 2024, provisional data showed.

Stocks in Spotlight:

Axis Bank declined 5.75%. The bank reported 4.1% rise in standalone net profit to Rs 6,034.64 crore on 16.97% increase in total income to Rs 35,844.22 crore in Q1 FY25 over Q1 FY24.

Larsen & Toubro added 1.47% after the company’s consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 1.68% to 7.081 as compared with previous close 7.086.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.7100, compared with its close of 83.7175 during the previous trading session.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.16% to 104.22.

The United States 10-year bond yield fell 0.66% to 4.259.

In the commodities market, Brent crude for September 2024 settlement lost 62 cents or 0.76% to $81.09 a barrel.

Global Markets:

Asian markets tumbled on Thursday as investors took a breather from the AI-fueled rally that has propelled stocks higher this year. Japan and South Korea both saw declines of over 2%, with chipmaker SK Hynix Inc. leading the downturn despite strong earnings.

The US market suffered a significant setback, with the S&P 500 plunging 2.3% — its worst day since December 2022. This marked the end of the longest period without a 2% drop since the 2008 financial crisis. The tech-heavy Nasdaq 100 plummeted 3.64%, dragged down by its largest components. Alphabet Inc. fell 5% after revealing higher-than-expected spending on its AI initiatives. Tesla Inc.'s stock plunged 12% following a disappointing profit report and delay of its robotaxi service. Nvidia Corp. also dropped 6.8%. The slump in the Magnificent Seven tech giants triggered a broad market sell-off. The Dow Jones Industrial Average also declined 1.25%.

Powered by Capital Market - Live News