Thursday, 27 April 2017

Axis Bank dips nearly 3% on disappointing Q4 by Ripples Financial Advisory

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Shares of Axis Bank fell nearly 3 percent on the Bombay Stock Exchange after the private sector lender reported a fall of 43.1 per cent in its net profit after tax at Rs 1,225.10 crore for the quarter ended March 31, 2017, on the back of higher provisions. Weighed down by Q4, shares of the bank declined as much as 2.64 per cent to hit an intra-day low of Rs 503.60 apiece on the Bombay Stock Exchange. The script was currently trading at Rs 511.40 against the previous close price of Rs 517.30. In a similar fashion, stocks of lender were trading 1.20 per cent lower at Rs 510.95 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 30,101.68, down 31.67 points or 0.11 percent, at 11:40 hour.

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