Axis Bank rose 0.19% to Rs 511.90 at 10:15 IST on BSE after the bank said it reviewed and decided to keep the marginal cost of funds based lending rates of the bank unchanged with effect from 18 July 2017.
The announcement was made by the bank after market hours yesterday, 17 July 2017.Meanwhile, the S&P BSE Sensex was down 207.83 points or 0.65% at 31,866.95.
On the BSE, 35,286 shares were traded on the counter so far as against the average daily volumes of 4.62 lakh shares in the past one quarter. The stock had hit a high of Rs 513 and a low of Rs 506.70 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 424.60 on 10 January 2017.
The stock had underperformed the market over the past one month till 17 July 2017, gaining 0.19% compared with the Sensex's 3.28% rise. The stock had also underperformed the market over the past one quarter, gaining 1.69% as against the Sensex's 9.05% rise. The scrip had also underperformed the market over the past one year, dropping 9.53% as against the Sensex's 15.23% rise.
The large-cap bank has equity capital of Rs 479.44 crore. Face value per share is Rs 2.
Axis Bank's marginal cost of funds based lending rate (MCLR) for overnight loans will be 7.8%, the rate for one month will be 7.8% and for three months it will be 8%. The MCLR on 6-month loans will be 8.15% and for one-year loans the rate will be 8.25%, the bank said. MCLR on two-year loans will be 8.3% and for three-year loans the rate will be 8.35%.
Axis Bank's net profit fell 43.1% to Rs 1225.10 crore on 4.3% growth in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016.
Axis Bank is one of the biggest private sector banks in India.
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