Axis Asset Management Co manages around $12 billion in assets. Photo: Bloomberg Sticking with financial stocks and not chasing returns has helped Axis Asset Management Co. to ride the wave of volatility in Indian markets that has hammered many of its competitors. The Axis Bluechip Fund is up 25% over the past year, beating nine index funds and 35 other ... Read More »
NDTV Profit spoke to market experts on their top stock picks. The markets edged lower on Monday, with the Nifty trading near 8100 level. Analysts say trading is likely to be lacklustre for the rest of this year as foreign fund managers typically go on holidays during year-end. Meanwhile, NDTV Profit spoke to market experts on their top stock picks. ... Read More »
New Delhi: “Embarrassed and upset” over the conduct of a handful of employees bringing the organisation into disrepute, Axis Bank MD and CEO Shikha Sharma on Sunday said the bank has hired KPMG to conduct a forensic audit for enhanced due diligence and building more safeguards. Assuring that the fundamentals of the bank is on a “solid footing’, Ms Sharma ... Read More »
Mumbai: Country’s third largest private lender Axis Bank on Friday announced up to 0.15 per cent reduction in its lending rates, signalling a further downward trend in borrowing costs. The Ahmedabad-headquartered bank cut its overnight marginal cost of funding-based lending rate – the most competitive offering by rates – by 0.10 per cent to 8.55 per cent. The MCLRs for ... Read More »
Axis Bank said it has strong systems and controls in place as per central bank rules. Mumbai: Axis Bank on Monday slammed a regional newspaper report stating authorities were preparing to revoke the bank’s licence as “false and malafide”, saying it had strong systems and controls in place as per central bank rules. Axis, India’s third-biggest private sector bank, said ... Read More »
Amid rumours that India’s third biggest private sector lender- Axis Bank could lose its licence over alleged money laundering activities involving the suspended employees, the Reserve Bank of India clarified that it has not initiated any action to cancel the banking licence of Axis Bank. “The Reserve Bank of India today clarified that it has not initiated any action to ... Read More »
The raid was conducted at an Axis Bank branch situated in Noida Sector 51. Mumbai: In the wake of disclosure of transgressions in its network, including a case in Noida which came to light today, private sector lender Axis Bank said it has so far suspended 50 accounts and 24 employees for suspicious activities. Asserting that investigating agencies acted on ... Read More »
Mumbai: Axis Bank expects a dip in lending rates because of the surge in deposits which lenders are experiencing in the aftermath of the government’s move to scrap Rs 500 and Rs 1,000 notes. “The deposits are into savings or current accounts which are low cost ones. An increase in them should bring down our cost of funds,” Rajiv Anand, ... Read More »
New Delhi: Private sector lender Axis Bank on Wednesday cut its lending rate by 0.05 per cent, a move which will lower EMIs for its new borrowers. The new rate for one-year lending tenure has been reduced to 9.25 per cent from 9.30 per cent, Axis Bank said in a statement. Similarly, the two-year marginal cost of funds-based lending rate (MCLR) stands reduced to 9.35 ... Read More »
Ruchit Jain says market bottom is still not in place. Ruchit Jain, equity technical analyst at Angel Broking, says there is no certainty that a market bottom is in place. A pullback towards 7,240 is possible as long as Nifty holds 6,870, he added. (Watch) Stock Talk Buy Bank of Baroda: The stock has broken on the upside with good volumes ... Read More »
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