Axis Bank surges 6% on healthy December quarter earnings

The stock hit a new high of Rs 700, up 6 per cent in early morning trade, surpassed its previous high of Rs 679 recorded on January 17, 2019 on the BSE in intra-day trade.

Shares of Axis Bank hit a new high of Rs 700 apiece, up 6 per cent on BSE in the early morning trade after it reported over two-fold jump in net profit to Rs 1,680.85 crore for the third quarter ended December 31. The stock has surpassed its previous high of Rs 679 recorded on January 17, 2019, on BSE in the intra-day trade.

The private sector lender posted a growth of 131 per cent to Rs 1,681 crore on the back of strong growth in non-core income due to recoveries and stake sales. It had posted a profit of