Axis Bank slips as SEBI imposes fine of Rs 5 lakh
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Axis Bank is currently trading at Rs. 717.35, down by 4.85 points or 0.67% from its previous closing of Rs. 722.20 on the BSE.
The scrip opened at Rs. 727.00 and has touched a high and low of Rs. 727.00 and Rs. 715.80 respectively. So far 86015 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. 626.40 on 12-Apr-2021.
Last one week high and low of the scrip stood at Rs. 749.30 and Rs. 706.20 respectively. The current market cap of the company is Rs. 220097.04 crore.
The promoters holding in the company stood at 9.71%, while Institutions and Non-Institutions held 77.65% and 12.64% respectively.
SEBI has imposed a fine of Rs 5 lakh on Axis Bank for violation of merchant banker regulations. Axis Bank is registered as a merchant banker with the Securities and Exchange Board of India (Sebi).
The regulator had conducted an examination of the debt capital market operations of Axis Bank during the August 2016 to August 2019 period. It was observed that Axis Bank (noticee) had acted as the merchant banker in respect of 22 public issuances of debt of various companies during the given period. During that time, it had also acquired securities in respect of 9 public issues of debt made by the said companies.
However, Axis Bank failed to make the requisite disclosures under the merchant bankers regulations following which Sebi has imposed a penalty on the entity.
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.
