Axis Bank adds approximately 3 percent to stocks in two-trade sessions

According to Capitalmarket.com, on December 3, Axis Bank stock added 2.85 percent in two sessions from its recent closing low of Rs 602.60. On a year-to-date (YTD) basis, the stock stooped by 18.14 percent. As opposed to the benchmark S&P BSE Sensex that gained 9.75 percent during the same period.

In a two-month, period the Unit Trust of India sold 97.68 lakhs shares worth Rs 595.69 crore. On the 26th and 27th of November 2020, the Specified Undertaking of the Unit Trust of India sold 36,25,075 shares of Axis Bank worth Rs 221.47 crores.

Moreover, on the 2nd and 4th of December 2020, the Administrator of the Specified Undertaking of the Unit Trust of India sold 61,43,308 shares of Axis Bank worth Rs 374.21 crore.

SUUTI held 4.33 percent stakes or 12.96 crore shares of the private lender in Axis Bank as of 30 September 2020.

Axis Bank is a private sector bank, and it has a network of 4,568 domestic branches and extension counters situated in 2,582 centres along with 11, 821 ATMs and 5,606 cash recycle across the nation.

According to Capitalmarket.com, the private lender reported a net profit of Rs 1,683 crore in the second quarter of 2020 as opposed to a net loss of Rs 112 crore in the second quarter of 2019. Total income during the quarter rose to 2.8 percent year-on-year to Rs 19,870.07 crore in Q2FY21.

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