Axis Bank rose 4.02% to Rs 425.35 at 11:13 IST on BSE, with the stock extending Thursday's gains triggered by the bank announcing good Q3 December 2015 earnings.
Meanwhile, the S&P BSE Sensex was up 392.05 points or 1.64% at 24,354.26.
On BSE, so far 4.14 lakh shares were traded in the counter as against average daily volume of 8.35 lakh shares in the past one quarter. The stock hit a high of Rs 426.70 and a low of Rs 415 so far during the day. The stock had hit a record high of Rs 655.35 on 4 March 2015. The stock had hit a 52-week low of Rs 366.65 on 18 January 2016. The stock had underperformed the market over the past one month till 21 January 2016, sliding 7.37% compared with Sensex's 6.89% fall. The scrip had also underperformed the market in past one quarter, declining 20.04% as against Sensex's 12.19% fall.
The large-cap private sector bank has equity capital of Rs 475.89 crore. Face value per share is Rs 2.
Shares of Axis Bank have risen 9.44% in two trading sessions from a recent low of Rs 388.65 on 20 January 2016, after the bank announced good Q3 December 2015 results after market hours on 20 January 2016. The stock had surged 5.21% to settle at Rs 408.90 yesterday, 21 January 2016.
Axis Bank's net profit rose 14.5% to Rs 2175.30 crore on 14.66% rise in total income to Rs 12531.11 crore in Q3 December 2015 over Q3 December 2014. On absolute basis, Axis Bank's gross non-performing assets (NPAs) stood at Rs 5724.05 crore as on 31 December 2015, compared with Rs 4451.11 crore as on 30 September 2015 and Rs 3901.59 crore as on 31 December 2014. The ratio of gross NPAs to gross advances stood at 1.68% as on 31 December 2015 as against 1.38% as on 30 September 2015 and 1.34% as on 31 December 2014. The ratio of net NPAs to net advances stood at 0.75% as on 31 December 2015 as against 0.48% as on 30 September 2015 and 0.44% as on 31 December 2014.
The bank's provisions and contingencies rose 40.5% to Rs 712.59 crore in Q3 December 2015 over Q3 December 2014. As on 31 December 2015, the bank's provision coverage as a proportion of gross NPAs, including prudential write-offs was 72%. The provision coverage before accumulated write-offs was 82%, Axis Bank said in a statement.
Axis Bank is one of the biggest private sector banks in India.
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