Axis Bank Limited is a private banking company. Axis Bank share price fluctuation affects Nifty because it carries good weightage among Nifty 50 stocks.
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Axis Bank Share Price Graph
Incorporated in 1993, Axis Bank Limited was one of the first few private banks which started operations in India after the Government of India came up with the policy to allow private banks to start banking business in India. It was fist such step taken by Government of India after the nationalisation of private banks took place after independence. UTI, the best and largest financial institution was the promoter of Axis bank. The bank started its journey with Rs 115 crores of capital, UTI contributing Rs 100 crores, LIC Rs 7.5 crores and the rest came from GIC and its 4 subsidiaries. In the year of 1994 Axis bank started its banking business, the year govt. made the decision to allow privately run banks.
The bank has been running efficiently since then and became one of the leading private banks in India. Now, in India, it is one of the top three private banks. Today, the bank’s management views the banking business to provide solidity and reliability to support its consumers and thrives due to excellence in banking service. The bank operates both in retail banking services and corporate banking services and has achieved a mark of excellence in both the sectors. Today in order to remain on top it has adopted best industry practices that are at per with best of international standards.
With a view to expand and reach more consumers and make footsteps in diversified banking services, it made an acquisition of Enam Securities in November 2010. Though it had to shell out $ 456 million for that buyout, the step made a positive impact in the balance sheet. Now, Axis Securities, a wholly owned subsidiary handle the investment banking services and all operations related to demat and related services, investment in the stock market by the customers through Axis securities and all other depository related services.
Till date, the company has received numerous national and international awards for excellence in the banking sector.
Axis bank offers following services to its customers:
- Retail/ Personal Banking
- Corporate Banking
- NRI Banking
- E commerce
- Priority Banking
- VBV/ MSC – Online transactions using Debit Card
- VBV – Online transactions using Credit Card
Company Financials – Axis Bank share price is Rs 510.00 (as on 16.06.17, EOD) in BSE. As per latest Axis Bank share price, the standalone basis P/E is 33.22 versus average industry PE of 27.31, EPS is Rs 15.35. Market cap is Rs 1,22,241 crores. The face value of share is Rs 2. Net NPA to Net Advance percentage stands at 0.74% (as per data of fiscal,’16).
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