Axis Bank Shares Slump Over 4%
Axis Bank's shares dropped by over 4% on Friday after the lender posted weaker-than-expected earnings in its December quarter. The stock ended 4.4% lower to close at ₹992.
The Bank Nifty index ended 1.5% lower on Friday. Out of the 12 stocks in the Bank Nifty Index, nine declined and three advanced.
Kotak Mahindra Bank declined 2.6% while ICICI Bank and Federal Bank ended almost 2% lower. HDFC Bank and AU Small Finance Bank shed almost 1% each. Canara Bank, Punjab National Bank and IDFC First Bank ended higher.
«Axis Bank had a weak earnings update even though the expectations were already muted,» said Dharmesh Kant, head of research, Cholamandalam Securities. «The credit cost went up 1.28% from 0.9% last quarter and the management had no comments on containing the same either.»
Stock Trading
Maximise Returns by Investing in the Right Companies
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
By — Saketh R, Founder- QuickAlpha, Full Time Options Trader
Stock Trading
Technical Analysis for Everyone — Technical Analysis Course
By — Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities
Stock Trading
Stock Markets Made Easy
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Renko Chart Patterns Made Easy
By — Kaushik Akiwatkar, Derivative Trader and Investor
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder- Indiacharts.com
Stock Trading
Markets 102:
