Mr. Jaikishan Parmar (Sr. Equity Research Analyst - BFSI, Angel Broking):
"Provision, slippages surge; New set of potential stressed asset disclosed:
Provisions during the quarter increased by 41%/14% qoq/yoy primarily owing to higher slippages and additional provision (land held as non baking asset and non fund based outstanding in NPA/ weak asset). Key disappointment was new list of potential stressed loan in 8 stressed corporate groups. Total exposure to above corporate was Rs. 12,200cr of which Rs. 7,000cr was through advances, Rs. 2,200cr through investment in bonds and non-fund based exposure worth of Rs. 3,000cr (Exhibit 4). Out of this, exposure worth Rs. 6,700cr is not part of BB & below book and NPA. However, bank has taken additional contingent provision worth Rs. 2,358cr over last few quarters. Overall stress asset (BB & Below+SR+NFB) went up by 140bps qoq to 3.94%."
Shares of AXIS BANK LTD. was last trading in BSE at Rs.669.65 as compared to the previous close of Rs. 674.4. The total number of shares traded during the day was 419021 in over 7951 trades.
The stock hit an intraday high of Rs. 680.8 and intraday low of 663. The net turnover during the day was Rs. 281277586.