Axis Bank spurts 2% on acquiring Citigroup's Indian banking businesses

The private lender has acquired Citigroups' Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans in an all cash deal worth Rs 12,325 crore.

Axis Bank spurted nearly 2 per cent to a high of Rs 763.90 in Thursday's intra-day trade on the back of acquiring Citigroup's Indian consumer banking businesses, in an all-cash deal worth Rs 12,325 crore. The stock, however, pared gains and was up 0.4 per cent at Rs 532 as of 09:22 AM, while the BSE Sensex moved 0.1 per cent higher to 58,764.

The stock has gained 20 per cent in the last 17 trading sessions from an intra-day low of Rs 637 touched on March 08, 2022. During the same period, the BSE benchmark has appreciated by 12.5