Sensex extends gains; Nifty reclaims 9550 ahead of F&O expiry

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Shares of Axis Bank soared 4 percent intraday as investors cheered fresh fundraising by the bank.

The private sector lender raised Rs 3,500 crore by issuing debt securities on a private placement basis.

The board of directors of the bank approved and allotted 35,000 unsecured subordinated perpetual additional tier-I Basel III compliant non-convertible debentures aggregating Rs 3,500 crore on a private placement basis.

These debentures will strengthen the overall capital adequacy ratio of the bank by an estimated 74 basis points (0.74 percentage) and also enhance the long-term resources," the bank said in its statement.

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