Shares of ICICI Bank and Axis Bank rose 0.79% to 1.45% at 10:43 IST on BSE on reports both these banks have cut interest rate on home loans on Tuesday, 14 April 2015.
ICICI Bank (up 1.45% at Rs 321.50) and Axis Bank (up 0.79% at Rs 571) edged higher.
Meanwhile, the S&P BSE Sensex was down 86 points or 0.3% at 28,958.44.
ICICI Bank reportedly cut its home loan rate for both existing as well as new borrowers by 25 basis points (bps) to 9.9% on Tuesday, 14 April 2015.
Axis Bank reportedly cut its home loan rate by 20 bps to 9.95% on Tuesday, 14 April 2015.
Axis Bank's net profit rose 18.4% to Rs 1899.76 crore on 15.9% growth in total income to Rs 10928.81 crore in Q3 December 2014 over Q3 December 2013.
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Axis Bank is a leading private sector bank in India.
ICICI Bank's net profit rose 14.1% to Rs 2889.04 crore on 8.9% growth in total income to Rs 15526.88 crore in Q3 December 2014 over Q3 December 2013.
ICICI Bank is a leading private sector bank in India. As at 31 December 2014, the bank had 3,850 branches and 12,091 ATMs.
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