Axis Bank Shares Fall 6% As Investors Dump Stock

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Shares in Axis Bank fell a huge 6 per cent, as investors dumped the shares, despite solid Q2 numbers. The shares were last trading at Rs 490, down 6 per cent over Tuesday's close.

Axis Bank Shares Fall 6% As Investors Dump Stock
Axis Bank: Quotes, News
BSE 526.60BSE Quote12.2 (2.32%)
NSE 526.10NSE Quote13.95 (2.65%)
Axis Bank reported a good set of Q2 numbers with net profit growing almost 19% to Rs 1915.64 crore. Total income at the bank grew to Rs 12001.01 crore in Q2 September 2015.

The asset quality of the bank, deteriorated a little with gross non-performing assets (NPAs) at 1.38 per cent of gross advances as of September 2015 as against 1.34 per cent a year ago.

The loan book also grew at a healthy pace of 23 per cent. The only worry for investors is that almost a fifth of its loans are exposed to risky assets from the power, infrastructure and metal space.

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