Trending stocks: Axis Bank shares gain nearly 4%

NEW DELHI: Shares of Axis Bank Ltd. traded 3.64 per cent up in Wednesday's trade at 09:37AM (IST). Around 624915 shares changed hands on the counter. The stock opened at Rs 473.0 and touched an intraday high and low of Rs 482.85 and Rs 461.9, respectively, in the session so far.

The stock quoted a 52-week high of Rs 827.75 and a 52-week low of Rs 286.0.

The private lender reported a decline of 19 per cent in its net profit for the first quarter (Q1) of 2020-21 due to accounting policy changes and creation of NII reserves. The lender posted a net profit of Rs 1,112 crore net profit during Q1 from Rs 1,370 crore for the corresponding period of the previous fiscal.


Financials
Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 125918.66 Crore).

Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 41322.02 Crore to Sales Value (75.15 % of Total Sales), Income From Investment which contributed Rs 11349.07 Crore to Sales Value (20.64 % of Total Sales) and Interest which contributed Rs 1621.33 Crore to Sales Value (2.94 % of Total Sales)for the year ending 31-Mar-2019.

Promoter holding
Promoters held 15.69 per cent stake in the company as of quarter ended 31st Jun 2020.

Valuation ratio
It quoted a price-to-earnings ratio of 74.45 and price to book value of 1.69.