Axis Bank Declines after Reporting Tepid Q4 Results

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Axis Bank declined 1.72% to Rs 508.40 at 9:40 IST on BSE after net profit dropped 43.13% to Rs 1225.10 crore on 4.33% rise in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 26 April 2017.

Meanwhile, the S&P BSE Sensex was down 29.63 points or 0.1% at 30,103.72.

On the BSE, 5.08 lakh shares were traded on the counter so far as against the average daily volumes of 9.17 lakh shares in the past one quarter. The stock had hit a high of Rs 525 and a low of Rs 503.60 so far during the day.

The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 424.60 on 10 January 2017. The stock had outperformed the market over the past one month till 26 April 2017, rising 5.74% compared with the Sensex's 2.42% rise. The scrip had also outperformed the market over the past one quarter, gaining 11.56% as against the Sensex's 8.75% rise.

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