Axis Bank shares tank 6% post Q3; here’s why
Axis Bank’s Q3 profit of ₹6,071 crore was slightly short of the market expectations, while NII was mostly in line with projections.
Axis Bank’s Q3 profit of ₹6,071 crore was slightly short of the market expectations, while NII was mostly in line with projections.
Bain Capital is reportedly looking to sell another 1.1% stake worth $444 million in Axis Bank at a floor price of ₹1,109 per share.
The homegrown bank has completed the acquisition of Citibank’s India consumer and non-banking finance businesses for ₹12,325 crore.
Axis Bank has reported a 62% YoY rise in its net profit at ₹5,853 crore in Q3 FY23, aided by improvement in operating metrics and asset quality.
The private lender plans to raise funds by issuing unsecured, rated, listed, subordinated, taxable, non-convertible, Basel III compliant Tier II bonds
Bain Capital to sell a 1.24% stake in Axis Bank at a floor price of ₹888 per share, a discount of 2% to Monday’s closing price.
Most of the analysts have maintained “buy” call on Axis Bank after it reported a 91% y-o-y jump in net profit in June quarter of 2022