Axis Bank gains after board approves allotment of senior notes : 3 Feb 2017

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Axis Bank advanced 0.8 percent to Rs 486.30 on BSE after the bank announced that its board of directors approved the allotment of 3 years senior floating rate notes aggregating to $ 10 million in the international market.

The announcement was made after market hours yesterday, 2 February 2017.

Meanwhile, the BSE Sensex was down 7.50 points, or 0.07 percent, to 28,207.60.

On the BSE, 17,663 shares were traded in the counter so far, compared with average daily volume of 5.18 lakh shares in the past one quarter. The stock had hit a high of Rs 487.50 and a low of Rs 483 so far during the day.

Axis Bank announced that the board of directors of the bank has passed a resolution approving the allotment of 3 years senior floating rate notes aggregating to $ 10 million under the bank’s medium term note (MTN) Programme through its Dubai International Financial Centre (DIFC) branch.

Axis Bank’s net profit dropped 73.4 percent to Rs 579.57 crore on 15.7 percent growth in total income to Rs 14,501.21 crore in Q3 December 2016 over Q3 December 2015.

Axis Bank is one of the biggest private sector banks in India.

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