Axis Bank gains on entering into partnership with Airtel Payments Bank
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Axis Bank is currently trading at Rs. 635.95, up by 10.15 points or 1.62% from its previous closing of Rs. 625.80 on the BSE.
The scrip opened at Rs. 622.30 and has touched a high and low of Rs. 639.40 and Rs. 622.30 respectively. So far 137391 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 866.60 on 25-Oct-2021 and a 52 week low of Rs. 618.10 on 23-Jun-2022.
Last one week high and low of the scrip stood at Rs. 645.75 and Rs. 622.30 respectively. The current market cap of the company is Rs. 195389.16 crore.
The promoters holding in the company stood at 9.70%, while Institutions and Non-Institutions held 77.43% and 12.73% respectively.
Axis Bank and Bharti Airtel’s subsidiary -- Airtel Payments Bank have entered into the partnership which aims to digitise the cash collection system in small cities and semi-urban regions. Airtel Payments Bank would leverage the wide reach of its digital-led neighbourhood banking model to support Axis Bank with the digitisation of last-mile cash collections.
Axis Bank and its customers would benefit through operational efficiencies in the cash management process. This would also accelerate the payment cycle and help in free up the bandwidth of field agents who operate across the country.
Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.
