While the banking index is just an inch away from making a new high, one of its constituents – Axis Bank (NS:) touched a new lifetime high in today’s session. This private-sector lender holds a weightage of 11.51% and has a market capitalization of INR 3,62,550, making it the 4th largest bank in the country.
In the last 12 months, FIIs have increased their holdings from 47.86% to 53.84%, as of March 2024. Mutual funds have liquidated a bit of their holdings, from 23.06% to 22.67% in the same period.
The bank reported a record revenue and net income of INR 1,37,989 crore and INR 26,317 crore, respectively. In fact, the net income has been increasing at a 5-year CAGR of a mammoth 88.4%! That’s quite impressive considering the size of the bank.
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Today as the stock jumped to a new high, investors might be thinking about whether they should book profits or…
