Axis Bank Ltd is up for a fifth straight session today. The stock is quoting at Rs 1009.8, up 0.89% on the day as on 12:39 IST on the NSE. The benchmark NIFTY is up around 0.26% on the day, quoting at 20044.4. The Sensex is at 67427.32, up 0.31%. Axis Bank Ltd has gained around 7.43% in last one month. Meanwhile, Nifty Bank index of which Axis Bank Ltd is a constituent, has gained around 3.58% in last one month and is currently quoting at 45511.35, up 0.35% on the day. The volume in the stock stood at 56.73 lakh shares today, compared to the daily average of 96.18 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 1013.8, up 0.9% on the day. Axis Bank Ltd is up 25.75% in last one year as compared to a 11.33% jump in NIFTY and a 10.3% jump in the Nifty Bank index.The PE of the stock is 14.23 based on TTM earnings ending June 23.
Axis Bank has allotted 3,82,301 equity shares under ESOS on 12 September 2023. The paid up share capital of the Bank has accordingly increased from Rs. 616,21,75,096 (308,10,87,548 equity shares of Rs. 2each) to Rs. 616,29,39,698 (308,14,69,849 equity shares of Rs. 2each).
The next targets for the Nifty50 to watch out for would be 20,500-21,000 in the short term, considering the strong momentum sustained through the last seven sessions with participation from bank and IT stocks