The third largest private sector lender Axis Bank on Monday said its executive director Pralay Mondal has resigned due to "personal compulsions" within one year of joining the bank.
Equity benchmark indices were on a low swing during early hours on Friday ahead of the release of GDP data for January to March quarter (Q4 FY20).
Shares of Axis Bank on Wednesday zoomed over 14 per cent amid reports of fund infusion by private equity firm Carlyle.
The losses in the last quarter were reported despite a 19 per cent increase in Axis Bank's net income, which grew to Rs 6,808 crore
Sensex has surged 900 points on global cues as Nifty regained the 9,000 mark. At 9:41 am Sensex is trading in the upper 30,000 mark as Axis Bank and Tata Motors are up 4 per cent. Pharmaceutical companies like Sun Pharma are also in the green on the back on high use of products due to COVID-19 outbreak.
In the previous session, the BSE barometer surged 2,476.26 points or 8.97 per cent to settle the day at 30,067.21; while the NSE barometer Nifty zoomed 708.40 points or 8.76 per cent to close at 8,792.20 -- the best session ever for both indices.
Equity benchmark indices were buoyant during early hours on Friday ahead of a media briefing by Reserve Bank of India (RBI) Governor Shaktikanta Das, raising hopes of liquidity-infusing steps to absorb the economic impact of coronavirus amid a countr
Private sector lender Axis Bank on Thursday urged its customers to avoid visiting branches in the wake of the coronavirus outbreak and instead, use internet banking, mobile app and chatbot for banking services.
The Bombay High Court in Mumbai on Thursday sought BJP leader Devendra Fadnavis's response to a petition questioning the transfer of salary accounts of the police department to Axis Bank, a private lender.
Axis Bank on Thursday said its board has approved appointment of Puneet Sharma as Chief Financial Officer (CFO). His appointment will be effective from March 6, the private sector lender said in a regulatory filing. Sharma replaces Jairam Sridharan, who has resigned as the group executive and CFO of the bank, with effect from the close of business hours on March 5, it said.
Axis Bank on Thursday said it has entered into a confidentiality and exclusivity arrangement to explore the possibility of entering into a long-term strategic partnership with Max Life.
Reliance Power on Tuesday said one of its lenders Axis Bank has initiated insolvency process against its subsidiary Vidarbha Industries Power Ltd for a claim of Rs 553.28 crore.
Markets regulator Sebi has rejected Axis Bank's plea to allow the lender to invoke the pledge on shares in the Karvy Stock Broking Ltd (KSBL) matter. The order comes after the Securities Appellate Tribunal (SAT) on December 20 had asked Sebi to pass an order by January 15, 2020 in the case. The tribunal had modified its earlier directive passed on December 17, wherein it had asked the markets watchdog to pass an order within 15 days in the case.
The Axis Bank finds itself in the middle of a controversy with its employee, Amruta Fadnavis, wife of former Maharashtra Chief Minister Devendra Fadnavis, facing fire from the BJP's erstwhile ally, Shiv Sena, over conflict of interest.
After rising 284 points in early session, the 30-share index was trading 244.04 points or 0.60 per cent higher at 40,825.75. Similarly, the broader Nifty was trading 66.20 points or 0.55 per cent up at 12,038.
Rival Kotak Mahindra Bank has also announced free tags till December 1 with a similar limited period offer, an official statement said, while an HDFC Bank official said the lender has waived off the processing charges of Rs 100 till December 31.
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