Axis Bank slashes MCLR rates for short tenors

India Infoline News Service | Mumbai | June 17, 2017 09:29 IST

Axis Bank, India’s third largest private sector bank has reviewed and changed the MCLRs in the short term. The bank has kept the one year MCLR unchanged at 8.25%. The MCLR are effective from 17 June 2017.

Axis Bank, India’s third largest private sector bank has reviewed and changed the MCLRs in the short term. The bank has kept the one year MCLR unchanged at 8.25%. The MCLR are effective from 17 June 2017.
Tenor MCLR %
Overnight 7.80%
One Month 7.80%
Three Month 8.00%
Six Month 8.15%
One Year 8.25%
Two Years 8.30%
Three years 8.35%
 
The new loans will be priced at these internal benchmark MCLRs with effect from June 17, 2017, the bank said. Banks review the MCLR rates every month.
Stock view:

Axis Bank Ltd ended at Rs 509.7, up by Rs 1.65 or 0.32% from its previous closing of Rs 508.05 on the BSE.
 
The scrip opened at Rs 507.9 and touched a high and low of Rs 513.9 and Rs 507.7 respectively. A total of 5337096(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 122240.75 crore.
 
The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 424.6 on 10-Jan-2017. Last one week high and low of the scrip stood at Rs 514.7 and Rs 501.7 respectively.
 
The promoters holding in the company stood at 28.76 % while Institutions and Non-Institutions held 56.69 % and 10.01 % respectively.
 
The stock traded above its 50 DMA.

***Note: This is a NSE Chart

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