Jan 28, 2013, 04.07 PM IST | Source: Reuters

Axis Bank gains ahead of expected share sale

Reuters Market Eye - Shares in Axis Bank gain 3 percent on expectations that its up to USD 1 billion share sale will attract solid demand.

Axis Bank gains ahead of expected share sale

Shares in Axis Bank No big dip seen in bank lending rates even if RBI cuts repo

"Axis Bank's QIP would easily get oversubscribed as its fundamentals are good. Money raised via QIP would translate into 10 times of credit growth for the bank," said G Chokkalingam, CIO, Centrum Wealth Management.

Axis Bank trades at 1.8 times 12 month forward price-to-book, compared to ICICI Bank that trades at 1.9 times and HDFC Bank at 3.9 times, according to Thomson Reuters StarMine data.

Axis Bank stock price

On April 17, 2014, Axis Bank closed at Rs 1459.70, up Rs 28.05, or 1.96 percent. The 52-week high of the share was Rs 1549.00 and the 52-week low was Rs 764.00.

The company's trailing 12-month (TTM) EPS was at Rs 126.19 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 11.57. The latest book value of the company is Rs 704.51 per share. At current value, the price-to-book value of the company is 2.07.

READ MORE ON  market, Axis Bank, QIP, CIO, G Chokkalingam
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