Axis Bank inches up on eyeing to capture one-fifth of credit card market in medium term
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Axis Bank is currently trading at Rs. 694.85, up by 1.30 points or 0.19% from its previous closing of Rs. 693.55 on the BSE.
The scrip opened at Rs. 690.00 and has touched a high and low of Rs. 695.15 and Rs. 687.95 respectively. So far 14055 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. 630.80 on 16-May-2022.
Last one week high and low of the scrip stood at Rs. 697.90 and Rs. 659.95 respectively. The current market cap of the company is Rs. 212449.47 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 has started to reap the benefits of its strategy to grow organically alongside strong partnerships to fuel growth in the credit cards business, raking in the highest ever acquisition in the March quarter. Buoyed by the growth, the bank is eyeing capturing one-fifth of the credit card market in the medium term.
The fourth-largest private sector bank clocked the highest ever quarterly growth with over 1.1 million credit card acquisitions in the March quarter of 2021-22.
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
