News Overview

Brent crude futures had increased by 40 cents to $90.78 per barrel. At $86.78, U.S. West Texas Intermediate (WTI) crude saw a 35-cent increase.

The dollar gained 0.03% to 151.87 yen, staying close to the 34-year peak of 151.975 yen reached last month as jawboning efforts by Japanese officials to support the currency increased.

On Monday, the rupee finished steady at 83.31 versus the US dollar, as bullish local stocks were offset by the strength of the American currency in the offshore market.

In the quarter ending March FY24, the bank reported a total business of ₹4.50 Lakh Crore, marking a 9.62% rise compared to the corresponding period in the previous year, with total advances jumping 15.92% year on year to ₹1.87 Lakh Crore and deposits climbing 5.53% to ₹2.63 Lakh Crore.

Axis Bank shares have increased by 43% over the previous five years, outperforming the benchmark Sensex's 93% increase and the BSE Bankex index's 64% increase.

The current IPO blueprint comprises a new equity offering amounting to ₹1,000 Crore alongside a ₹4,000 Crore offer for sale. Within the offer for sale (OFS), the promoter BCP Topco VII Pte is set to divest its stake.

Despite the benchmark indices hitting record highs, the broader market saw mixed results. The BSE SmallCap index ended marginally lower by 0.06%, while the BSE MidCap index gained 0.26%.

The company will be paying out its first dividend since going public in 2018.

In an exchange filing, Muthoot Microfin highlighted substantial growth in the quarter and fiscal year, focusing on credit expansion, rising margins, and declining credit costs.

Under the proposed transaction, Trinity will acquire a 100% stake in Strides SA, with a 60% stake from Strides Cyprus and 40% from another shareholder, for ZAR 21.73 million.