Shares of Axis Bank touched its 52-week high of Rs 766.70, up nearly 1% intraday on March 20 after brokerages Nomura and CLSA maintained their 'buy' rating on the private lender. CLSA has maintained a buy call on Axis Bank with a target at Rs 840 per share. Nomura also maintained a buy rating on Axis Bank and raised the target price to Rs 900 from Rs 850 per share.
Private sector lender Axis Bank Tuesday has appointed Rakesh Makhija as its non-executive chairman for a term of 3 years, with effect from July 18. He will replace Sanjiv Misra, whose term as the bank’s non-executive (part-time) chairman expires on July 17. The appointment is subject to the approval of the RBI and the bank’s shareholders.
Reliance Industries raised Rs 7,000 crore by selling three-year domestic bonds. The bonds were subscribed to by Axis Bank, Barclays, Nomura, and ICICI Bank. Axis Bank reportedly subscribed to more than half the total at about Rs 4,000 crore. This is RIL’s largest fundraising exercise in 2019 through the issuance of bonds.