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ETNow reported about the block deal. Details of the buyers and sellers were not known immediately.
The action in Axis Bank stock was accompanied with strong volumes as 92 lakh shares were trading on the NSE around 2 pm.
Axis Bank shares have been market laggards and have fallen nearly 8% in the past one year. In 2025 so far, the decline stands at 4.5%.
The overall negative sentiments prevailing in the markets and bank’s own lackluster show has added to the weakness in the Axis Bank stock.
Nifty’s 1-year gains stand at 5% while banking gauge Nifty Bank has hardly budged with less than 1% gains.The private lender will announce its Q3FY25 earnings on Thursday, January 16, 2025 where it is expected to report lower than expected loan growth, coupled with elevated provisions.Net profit in the reporting period is likely to grow 4% year-on-year (YoY), according to an average estimate of five brokerages. Meanwhile, net interest income (NII), the difference between interest expended and earned, could jump 9% YoY.
The earnings will mainly be hurt by provisions, which analysts estimate will more than double from the previous year period.
Analysts are building in a loan growth of 11% YoY and 4% QoQ during the third quarter, while asset quality ratios are expected to rise slightly.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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