Axis Bank Shares Drop Following Quarterly Earnings Miss
The Indian lender reported a slight profit decline to 70.71 billion rupees due to macro risk provisions. Shares fell nearly five percent in Monday morning trade.
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Shares of AXIS BANK LTD experienced a sharp decline in Monday trading, falling as much as 4.8% following the release of fourth-quarter financial results that missed market expectations. The private lender, based in India, saw its stock price settle around 1,316 rupees by mid-morning as investors reacted to a combination of increased provisions and a significant new capital-raising plan.
