Axis Bank in trade on May 27, 2020 gained up to 15% to day's high of Rs. 392.5 per share on the BSE. As per the Bloomerberg report, volume in the stock is 1.4 times more than the 30-day average in the stock.
In an exchange filing, the bank has termed the news report of Carlyle's infusion into the bank to the tune of $1 billion for up to 8% holding as speculative.
After banks were beaten down sharply in trade following RBI's moratorium extension announcement, they have been bouncing back swiftly. Though, the risk on account of higher NPAs due to lockdown led by coronavirus is far from over.
Of the 58 analysts, 45 maintain a buy call on the stock with none recommending sell call on the stock.
Shares in Axis Bank were last trading higher by 11.42% at Rs. 380.49.