Shares of India's third-largest private lender Axis Bank Ltd. traded with cuts on January 15, after a block deal took place on the bourses and ahead of its earnings report for the October-December (Q3) of the current fiscal year (FY25).
According to data, 43.6 lakh shares of the bank were exchanged in two block deal windows in trade, at around 2 pm today. No further details, including the identity of the buyer and seller, are currently known.
At 3.20 pm, shares of Axis Bank were quoting Rs 1,025.5 apiece, down 2.5 percent on the NSE. Shares hit their lowest level in 14 months.
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Axis Bank is expected to report a 10 percent year-on-year (YoY) increase in net interest income (NII) and a 5.6 percent YoY rise in net profit for the third quarter of fiscal year 2024-25, driven by moderate loan growth, according to analysts. The bank is set to announce its Q3FY25 results on January 16, 2025.
According to Moneycontrol's poll of 6 brokerages, Axis Bank's NII will likely reach Rs 13,794 crore in Q3FY25, up from Rs 12,532 crore in the same period last year. Net profit is expected to rise to Rs 6,416 crore, compared to Rs 6,071 crore in Q3FY24.
During the October-December period, Axis Bank’s shares fell more than 13 percent, compared to a 4 percent drop in the benchmark Nifty 50 index.
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