Axis Bank up 5% on talks of Bain Capital eyeing stake

The stock was up 5% to Rs 508 on the BSE on back of heavy volumes.

Axis Bank was trading 5% higher at Rs 508 on the BSE in an otherwise subdued market as the media report suggested that the private equity (PE) firm Bain Capital is eyeing stake in the private sector lender. The S&P BSE Sensex and Nifty50 index were down 0.25% each at 10:50 AM.

The stock hit an intra-day high of Rs 511 and have seen huge trading volumes. A combined 12.78 million shares already changed hands on the counter so far against an average of 19.5 million shares traded in the past two weeks on the BSE and NSE.