Biggest Banks Of India: The shares of private sector Axis Bank have been witnessing a steady rise for the last few days, due to which the bank has gained tremendously on the market cap front…
For the last few days, the private sector Axis Bank (Axis Bank) has benefited a lot due to the rapid rise in share prices. On one hand, Axis Bank’s stock has reached a record high level (Axis Bank Share 52-Week High), while with this Axis Bank’s MCap i.e. market capitalization has crossed Rs 3 lakh crore. Axis Bank has become the fifth bank in the country to achieve this feat.
Today the share price reached here
Axis Bank shares have gained in 10 out of the last 11 sessions. During this, the share price of Axis Bank has gone up by about 7 per cent. This trend continued in Wednesday’s business as well and at one point in the day its price reached Rs 981.25. This is a new 52-week high for Axis Bank shares. With this, the mcap of Axis Bank has gone up to Rs 3.01 lakh crore.
Their mcap is more than axis bank
Before Axis Bank, 4 other banks of India have also achieved MCAP of Rs 3 lakh crore, including 3 private and one public sector bank. At present, HDFC Bank (HDFC Bank MCap) of the private sector is at the forefront in terms of MCap. Its current market capitalization is around Rs 9 lakh crore.
At number two is ICICI Bank (ICICI Bank MCap) of the private sector with Rs 6.57 lakh crore. After that, the third place is of SBI (SBI MCap), whose current market capitalization is Rs 5.26 lakh crore. At the same time, Kotak Mahindra Bank (Kotak Mahindra Bank MCap) is at the fourth position with a market capitalization of Rs 3.86 lakh crore.
This was the performance in the March quarter
Axis Bank has executed two big deals recently. This bank has completed the acquisition of the Indian consumer business of Citibank, as well as the non-bank consumer business of Citicorp Finance. This has affected the financial results of the bank and Axis Bank has incurred a loss of Rs 5,728.42 crore on net basis during the March 2023 quarter.
improvement in asset quality
However, the asset quality of Axis Bank improved sharply during the fourth quarter. The bank’s gross non-performing assets (Axis Bank NPA) came down to 2.02 per cent, while it was 2.38 per cent in the December quarter. The bank’s Net NPA Ratio (Axis Bank Net NPA Ratio) has also improved and it has come down by 8 basis points to 0.39 percent. This has benefited the shares of the company.
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