Shares of Axis Bank, India’s third-largest private lender, dropped to a 14-month low on January 15 after a block deal involving 43.6 lakh shares was executed during the trading session. The details of the buyer and seller remain undisclosed.
Axis Bank was trading at 1,025.5 rupees, down 2.5% on the day on the NSE at 3:20 pm. The stock has declined 13% in the October-December quarter against a 4% fall in the Nifty 50 index.
Despite this, analysts remained upbeat on the bank’s performance for Q3 FY25, estimating that the net interest income for the quarter would rise 10% YoY to ₹13,794 crore from ₹12,532 crore in Q3 FY24. The net profit is likely to rise 5.6% YoY at ₹6,416 crore from ₹6,071 crore reported in the October-December quarter of last fiscal.
Axis Bank is expected to report its Q3 earnings on January 16, 2025. Analysts peg the same at moderate loan demand during the quarter.
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Source: Moneycontrol
News Desk
