|Bid||0.00 x 0|
|Ask||614.55 x 0|
|Day's Range||603.50 - 616.45|
|52 Week Range||285.00 - 765.90|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||101.03|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||666.77|
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Axis Bank Ltd and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Axis Bank <AXBK.NS> said on Monday it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17% from 29%. The private-sector lender's move comes months after media reports said the deal, announced in April, ran into a regulatory roadblock over certain clauses in the agreement. The lender and the insurer did not immediately respond to requests for comment.
Axis Bank Ltd, India's third biggest private-sector lender, on Tuesday posted a surprise fourth-quarter loss of 13.88 billion rupees ($182.96 million), as it set aside more funds to cover a potential rise in bad loans in a coronavirus-hit economy. Mumbai-based Axis Bank booked provisions of 77.30 billion rupees for the quarter, or nearly three times higher than the year-ago period, including 30 billion rupees towards COVID-19. Separately on Tuesday, Axis Bank said it would buy a 29% stake in insurer Max Life Insurance for about 15.90 billion rupees, giving the lender a seat among rival banks who already have a foothold in the country's life insurance industry.