Axis up 4% on strong Q4 earnings

Axis Bank shares rise 3.7 percent after the bank posts better-than-expected March quarter results. Results, which came on Wednesday, showed net profit was at Rs 1555 crore versus estimates of Rs 1277 crore.

[caption id=“attachment_727099” align=“alignleft” width=“380”] Other banking shares also rise with the NSE banking index trading up 1.3 percent. Reuters[/caption]

Other banking shares also rise with the NSE banking index trading up 1.3 percent. SBI rises 1.3 percent, Punjab National Bank up 1.3 percent, Union Bank gains 3 percent.

Investors broadly bullish on rate-sensitive stocks such as banks ahead of the RBI’s monetary policy on May 3 where it is widely expected to cut rates by 25 basis points.

Reuters