Axis Bank Limited up by 8.96 percent | Espresso


Espresso Shot of the Day - Axis Bank Ltd up by 8.96 percent

October 21, 2022
Espresso Shot of the Day - Axis Bank Ltd up by 8.96 percent

AXIS BANK LTD 900.25 (+8.96%) BSE – INE238A01034| 21st October 2022

Axis Bank is the third largest private sector bank in India. The Bank offers an entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The Bank has a large footprint of 4,528 domestic branches (including extension counters) with 12,044 ATMs & 5,433 cash recyclers spread across the country as on March 31, 2020. The overseas operations of the Bank are spread across eleven international offices with branches in Singapore, Hong Kong, Dubai (at the DIFC), Colombo, Shanghai and Gift City-IBU; representative offices at Dhaka, Dubai, Abu Dhabi, Sharjah and an overseas subsidiary at London, UK. The international offices focus on corporate lending, trade finance, syndication, investment banking and liability businesses. Axis Bank is one of the first new generation private sector banks to have begun operations in 1994. The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The shareholding of Unit Trust of India was subsequently transferred to SUUTI, an entity established in 2003.

Recent Drivers

  • On October 21,2022, Axisbank reported a net profit of Rs. 5,329.77 crores during the quarter, compared to the Rs. 3,133.32 crores, reported in the same period last year thus posting a 70% rise,
  • On October 21,2022, Axisbank reported a 10% increase in Net Interest Income on quarterly basis and a 30% increase on year-on-year basis
  • On October 04, 2022 Axis Bank allotted 54,420 equity shares of Rs. 2/- each pursuant to the exercise of stock options under its ESOP Scheme.
  • Axis Bank said that it has entered an indicative and non-binding term sheet with Go Digit Life Insurance on September 28,2022 for the acquisition of up to 9.94% stake in the life insurer. The bank will invest an amount between Rs. 49.90 crores and Rs. 69.90 crore, in two tranches, by subscribing to equity shares of the company, for an equity stake of up to 9.94% of the paid-up equity share capital of the company.
  • Samsung and Axisbank launched a new co-branded credit card in India on September 27,2022. The Samsung Axis Bank credit card comes with complimentary airport lounge access, fuel surcharge waiver, dining offers, and access to a bouquet of Axis Bank offers.
  • Axis Bank declared a final dividend of Rs. 1 per share on June 17, 2022 for the Financial Year 2021-22, which shall be subject to the approval of shareholders at its ensuing Annual General Meeting of the Company. The record date for the same was July 8,2022.

(Sources: BSE, Money control, Business Standard, Economics Times)

Technical Force*

  • S&P BSE Sensex cap month till date gain by 3.27%.
  • 3 months avg. BSE volume: 6,87,189.
  • Traded on new 52 Week High value 905.00.
  • Spurt in Volume by more than 3.64 times.
  • Quantity traded: 19,64,281| Deliverable quantity: 7,13,034 (36.30%).
  • Stock price jumped by more than 40 % from a one-year low level: 618.10 (June 23, 2022)
  • Daily RSI (14) is near overbought territory today.
  • 52-week-high: 905.00 | 52-week-low: 618.10.

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Some Key Ratios (Source: BSE)

Market Cap:  2,76,592.86 Crores

PE:  16.93

OPM%: -

ROE%:  13.03

Promoters holding%: 9.69

Prev. Close:  826.20

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.