Tag: Axis Bank

Axis Bank signs pact to sell stake in Mswipe Technologies

Axis Bank signs pact to sell stake in Mswipe Technologies

21/06/2017 16:04

Private sector lender Axis Bank Ltd on Wednesday said it has inked a pact to sell 1,90,500 equity shares of Mswipe Technologies Pvt Ltd (Mswipe) for a total cash consideration of Rs 80.94 crore.

“The bank has signed an agreement for sale of 1,90,500 equity shares of face value of Rs 1 per share of Mswipe Technologies Private Limited (‘Mswipe’ or the ‘Entity’), at Rs 4,249 per share, resulting in a total cash consideration of Rs 80.94 crores,” Axis Bank Ltd said in a filing to the Bombay Stock Exchange on June 21, 2017.

Mswipe Technologies is primarily engaged in the business of merchant acquiring services.

The bank further said that, the transaction will be completed not later than July 2017.

The private sector lender has divested 8 per cent holding of Mswipe Technologies Pvt Ltd

Meanwhile, shares of the bank closed at Rs 507.55 apiece, down 0.83 per cent, from previous close on BSE.

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Axis Bank rises over 3% on fund raising plan

Axis Bank rises over 3% on fund raising plan

14/12/2016 12:39

Shares of Axis Bank climbed over 3 per cent on the Bombay Stock Exchange after the private sector lender said that it will raise fund upto Rs 3,500 crore through issue non-convertible debentures.

“The bank proposes to raise funds by issuing unsecured subordinated, perpetual, additional Tier I, Basel III compliant non-convertible debentures of the face value of Rs 10 lakh each for cash at par aggregating to Rs 3,500 crore,” Axis Bank said in a filing to BSE.

Buoyed by the development, shares of bank gained as much as 3.39 per cent to hit intra-day high of Rs 467.70 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of lender rose 3.09 per cent to Rs 466.95 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,638.88, down 58.94 points, or 0.22 per cent, at 12:45 hours.

Axis Bank proposes to issue Unsecured Redeemable Debentures

22/11/2016 09:35

Axis Bank Ltd has said that it has proposed to raise funds by issuing Unsecured Redeemable Non-Convertible Subordinated Debentures (Basel- III Compliant Tier II Debentures) (Series – 25) of the face value of Rs. 10 lakh each for cash at par aggregating to Rs. 1800 Crores (Rupees Eighteen Hundred Crore only).

“The Board of Directors of the Bank will consider the proposal to issue and allot the above Securities through Circular Resolution,” the company said in a filing to the Bombay Stock Exchange.

Meanwhile, shares of the bank were trading at Rs 467.35 apiece, up 0.32 per cent from the previous close at 09:40 hrs on BSE.

Post Session: Sensex ends 254 pts lower, Nifty settles below 8,620; Axis Bank slips 8%

26/10/2016 16:37

Indian equity benchmarks ended lower on Wednesday weighed down by financial stocks like Axis Bank which reported a sharp plunge in its September quarter profits, and tracking weak cues globally as a retreat in US consumer confidence, and renewed slump in oil prices raised concerns over the health of the global economy.

The 30-share BSE SENSEX closed at 27,836.51, down by 254.91 points or 0.91 per cent, and the NSE Nifty ended at 8,615.25, down by 76.05 points or 0.88 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 28,050.55 and intraday low of 27,759.56, while the NSE Nifty touched intraday high of 8,657.3 and intraday low of 8,596.6.

On the corporate front, shares of Axis Bank witnessed selling pressure after reporting a steep fall of 83.3 per cent in its net profit for the second quarter ended September 30, 2016 at Rs 319.08 crore, mainly on account of rise in bad loans.

The top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 486.50,-8.04%), Tata Motors Ltd. (Rs. 529.50,-4.27%), Tata Steel Ltd. (Rs. 398.85,-4.01%), ICICI Bank Ltd. (Rs. 278.55,-3.65%), Adani Ports & Special Economic Zone Ltd. (Rs. 305.00,-2.43%), among others.

On the flip side, Bharti Airtel Ltd. (Rs. 318.05,+2.25%), Hero MotoCorp Ltd. (Rs. 3421.55,+1.92%), Maruti Suzuki India Ltd. (Rs. 5871.95,+1.56%), Dr. Reddy’s Laboratories Ltd. (Rs. 3243.30,+1.34%), Hindustan Unilever Ltd. (Rs. 842.80,+1.29%), were among top gainers on BSE.

On the sectoral front, bank and metal stocks were among top losers on BSE, falling as much as 1.89 per cent and 1.37 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3,161, shares advanced were 1,260 while 1,650 shares declined and 251 were unchanged.

Axis Bank allots 1,05,900 equity shares

Axis Bank allots 1,05,900 equity shares

18/10/2016 11:35

Private-sector lender, Axis Bank Ltd said that it has allotted 1,05,900 equity shares pursuant to exercise of options under its ESOP Scheme.

“The Bank has allotted 1,05,900 equity shares of Rs. 2/- each on October 17, 2016, pursuant to exercise of options under its ESOP Scheme,” it said in a filing to the Bombay Stock Exchange.

The paid up share capital of the Bank will accordingly increase from Rs. 478,07,57,276 (239,03,78,638 equity shares of Rs. 2/- each) to Rs. 478,09,69,076 (239,04,84,538 equity shares of Rs. 2/- each).

Meanwhile, shares of the Bank were trading at Rs 521.65 apiece, up 0.54 per cent from the previous close at 11:40 hours on BSE.

Markets continue to hover in red; ONGC, Axis Bank weigh

Markets continue to hover in red; ONGC, Axis Bank weigh

05/10/2016 14:26

The key domestic benchmark indices continued to hover in red during the late noon trading session tracking weak cues from the European counters.

At 14:20 hours, the 30-share benchmark index was trading at 28258.32 down by 76.23 points or by 0.27 per cent, while the NSE Nifty was at 8759.4 down by 9.75 points or by 0.11 per cent.

Investor sentiment was dampened as Nikkei India Services Business Activity Index eased to 52 in September from 54.7 in August, pointing to a slower and moderate rate of expansion. Sentiments also remained subdued with a World Bank research predicting that the proportion of jobs threatened in India by automation is 69 per cent and in China it is 77 per cent.

In the choppy trade so-far, Sensex touched an intraday high of 28477.65 and an intraday low of 28209.19, while the NSE Nifty touched an intraday high of 8806.95 and an intraday low of 8731.4.

The top gainers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 1207.00,+1.23%), State Bank of India (Rs. 262.40,+1.22%), Hindustan Unilever Ltd. (Rs. 869.75,+1.14%), Tata Motors Ltd. (Rs. 555.60,+1.14%), Maruti Suzuki India Ltd. (Rs. 5729.35,+0.87%), among others.

The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 267.20,-2.39%), Axis Bank Ltd. (Rs. 537.40,-1.72%), Mahindra & Mahindra Ltd. (Rs. 1398.00,-1.23%), Bajaj Auto Ltd. (Rs. 2859.95,-1.19%), Hero MotoCorp Ltd. (Rs. 3495.00,-1.03%), among others.

Among the sectors, IT index was at 10254.48 down by -57.59 points or by -0.56%. Mastek Ltd. (Rs. 131.70,-4.11%), Intrasoft Technologies Ltd. (Rs. 415.00,-1.91%), Moser Baer India Ltd. (Rs. 7.78,-1.89%), Majesco Ltd. (Rs. 475.20,-1.83%), 3i Infotech Ltd. (Rs. 5.88,-1.67%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2981 , shares advanced were 1727 while 1122 shares declined and 132 were unchanged.

On the global front, Asian peers ended the day on a positive note, while European counters were hovering in red on reports that the European Central Bank’s governing council had reached an informal consensus on winding down its quantitative easing programme.

Markets hovering near flat line: Axis Bank, Dr. Reddy’s Lab shares dip

21/07/2016 10:28

The key domestic benchmark indices were trading near the flat line with a negative bias in the morning trading session as traders resorted to profit taking after a recent impressive run of gains.

A spate of quarterly earnings from the likes of ABB, Biocon, Cairn India, HDFC Bank, Hindalco and Kotak Mahindra Bank are due for release today, which will keep Dalal Street investors in watchful mode.

The investors continued optimism over the passage of the GST bill in the ongoing monsoon session of the Parliament and strong progress in the south-west monsoon rains may support sentiments at Dalal Street.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27872.35 down by 43.54 points or by 0.16 per cent, while the NSE Nifty was at 8555.25 points, trading lower by 10.6 points or by 0.12 per cent.

The BSE Sensex touched an intraday high of 27988.76 and an intraday low of 27861.97 while the NSE Nifty touched an intraday high of 8585.25 and an intraday low of 8553.65

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 225.90,+0.94 per cent), Cipla Ltd. (Rs. 522.05,+0.82 per cent), Asian Paints Ltd. (Rs. 1036.10,+0.66 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 801.60,+0.58 per cent), Wipro Ltd. (Rs. 541.50,+0.54 per cent), among others.

Meanwhile, Axis Bank Ltd. (Rs. 549.60,-1.58 per cent), Dr. Reddy’s Laboratories Ltd. (Rs. 3635.00,-1.20 per cent), Tata Consultancy Services Ltd. (Rs. 2474.70,-0.74 per cent), Mahindra & Mahindra Ltd. (Rs. 1450.15,-0.71 per cent), Power Grid Corporation of India Ltd. (Rs. 166.85,-0.68 per cent), were among the top losers on BSE.

Axis Bank slashes base rate by 10 bps to 9.35%

Axis Bank slashes base rate by 10 bps to 9.35%

20/07/2016 15:37

Country’s third largest private sector lender Axis Bank Ltd on Wednesday said it has trimmed its base rate by 0.10 per cent (or 10 bps) p.a. to 9.35 per cent p.a. from earlier 9.45 per cent p.a.

In a filing to the Bombay Stock Exchange, the Bank said, “Axis Bank has reviewed and decided to reduce the base rate of the bank by 10 basis points from the current 9.45 per cent to 9.35 per cent.”

The revised rates will be applicable with effect from July 27, 2016, the bank said in a statement.

Meanwhile, shares of the Bank closed at Rs 557.15 apiece, down 1.21 per cent, from previous close on BSE.

Axis Bank allots equity shares under ESOP

Axis Bank allots equity shares under ESOP

21/06/2016 10:55

Private sector lender, Axis Bank Ltd said it has allotted 2,89,200 equity shares pursuant to exercise of options under its ESOP Scheme.

These equity shares are having face value of Rs 2 each.

In a filing to the Bombay Stock Exchange, Axis Bank said, “The Bank has allotted 2,89,200 equity shares of Rs 2 each on June 20, 2016, pursuant to exercise of options under its ESOP Scheme.”

The paid up share capital of the Bank will accordingly increase from Rs 477,35,15,646 (238,67,57,823 equity shares of Rs 2 each) to Rs 477,40,94,046 (238,70,47,023 equity shares of Rs 2 each), it added.

Meanwhile, shares of the bank were trading at Rs 519.95 apiece, down 0.90 percent, from previous close on BSE at 10:56 hours.

Axis Bank gains on RBI nod to raise foreign shareholding

Axis Bank gains on RBI nod to raise foreign shareholding

01/06/2016 11:35

Shares of Axis Bank rose nearly 1 per cent on Bombay Stock Exchange (BSE) after the Reserve Bank of India (RBI) allowed the bank to raise foreign shareholding limit to 62 per cent, from the earlier limit of 49 per cent. “Foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) can now invest from the existing 49 per cent up to 62 per centof the paid-up capital of Axis Bank under the Portfolio Investment Scheme (PIS)”, RBI said in a notification.

Following the development, shares of bank gained 0.60 per cent to Rs 518.70 a piece on the BSE.

Shares of the bank surged 0.95 per cent to Rs 520.10 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,808.74, up by 140.78 points, or 0.53 per cent, at 11:25 hours.