Axis Bank hits 52-week high on fund raising plans

The stock hit a 52-week high of Rs 550, up 4% on the BSE after Axis Bank said its board will meet on Friday, 10th November 2017 to consider fund raising plans.

Axis Bank hit a 52-week high of Rs 550, up 4% on the BSE in early morning trade, after the private sector lender said the board will meet on Friday, 10th November 2017 to consider fund raising plans.

“A meeting of the board of directors of Axis Bank will be held on Friday, 10th November 2017 at Mumbai, to inter-alia, consider raising of funds by issue of equity / equity linked securities through permissible mode at an appropriate time,” Axis Bank said in an exchange filing.

Last week, the media report suggested that the private equity (PE) firm