Centrum Broking gives 'buy' call for Container Corp, Polycab India, Axis Bank
For Container Corporation of India, it has kept the target price at Rs 737 per share by FY23-FY24, against the current price of Rs 620. "Concor's domestic business is on a strong growth trajectory led by incremental cargo in commodities like cement, foodgrains, industrial salts, etc.," it said. The company's robust cash flows continue to support its elevated capital expenditure spending, leading to a debt-free balance sheet.
RBI imposes Rs 25 lakh fine on Axis Bank for violation of KYC norms
The penalty has been imposed in exercise of powers vested in the RBI under provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949. In a statement, the central bank said that the penalty has been imposed for "contravention of/non-compliance with certain provisions of directions issued by RBI contained in the Reserve Bank of India - Direction, 2016".
Axis Bank starts issuing AT-1 bonds under Rs 35k cr debt raising plan
In a regulatory filing on Monday, the bank said that the issuance is part of the existing Global Medium Term Notes (GMTN) programme of the bank. The Offering Circular for the GMTN programme has been updated on Singapore Exchange Limited (SGX) and the International Securities Market (ISM).
Axis Bank's Q1FY22 YoY net profit rises 94%
The net profit for the period under review rose to Rs 2,160 crore from Rs 1,112 crore for the corresponding period of previous fiscal. "The bank's operating profit for the quarter grew 10 per cent YoY to Rs 6,416 crore while the core operating profit grew 13 per cent to Rs 5,896 crore," the bank said in a statement.
Axis Bank, subsidiaries acquire over 12% in Max Life, become co-promoters
The bank and its subsidiaries Axis Capital and Axis Securities have completed the acquisition of 12.99 per cent stake collectively."The transaction was completed after the Insurance Regulatory and Development Authority of India (IRDAI) gave its formal approval in February this year," the bank said in a statement.
Axis Bank to acquire 9.9% stake in Max Bupa Health's promoter entity
A special purpose vehicle set up by True North Fund VI LLP, Fettle Tone LLP is currently a promoter of Max Bupa Health Insurance Company Ltd and holds 55.6 per cent of its total share capital. The transaction would include contribution of Rs 90.8 crore by Axis Bank Ltd, in cash, in the partnership capital of Fettle Tone LLP for acquiring 9.90 per cent of the aggregate partnership interest.