The stock emerged as the biggest gainer on both Sensex and Nifty.

The stock emerged as the biggest gainer on both Sensex and Nifty.

Shares of Axis Bank rallied over 9 per cent on Friday after the firm reported a 66.29 per cent jump in consolidated net profit for the September quarter.

The stock jumped 8.96% to settle at ₹900.25 apiece on the BSE. During the day, it advanced 9.53 to its 52-week high of ₹905.

On the NSE, it rallied 9.46% to end at ₹904 apiece.

Its market capitalisation (mcap) also jumped ₹22,757.86 crore to ₹2,76,592.86 crore.

The stock emerged as the biggest gainer on both Sensex and Nifty.

In volume terms, 19.64 lakh shares of the firm were traded on the BSE and 5.80 crore shares on the NSE during the day.

The 30-share BSE benchmark climbed 104.25 points or 0.18% to settle at 59,307.15.

On Thursday, Axis Bank reported a 66.29% jump in consolidated net profit for September quarter at ₹5,625.25 crore, driven by a substantial decrease in bad loan provisions and margin expansion.

On a standalone basis, the third largest private sector lender reported a 70% increase in its profit after tax for the July-September period at ₹5,329.77 crore.

The core net interest income rose 31% to ₹10,360 crore on the back of a 14% growth in assets and a 0.57% expansion in the net interest margin at 3.96%.

On the asset quality front, there was an improvement in the gross non-performing assets ratio at 2.50% as against 3.53% in the year-ago period and 2.76% at the end of the June quarter.



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By Dipak

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