MUMBAI Axis Bank (AXBK.NS) rose as much as 3.7 percent to its highest intraday level in more than two years on Tuesday as dealers cited good demand for a share sale of up to $1 billion.
The private sector lender on Monday was planning to raise as much as $1 billion through a qualified institutional placement, sources with direct knowledge of the matter told Reuters.
Axis Bank shares were up 4.24 percent at 3:24 p.m. after earlier gaining to as much as 1,503.55 rupees/
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)
Trending On Reuters
Eighteen village councils in Uttar Pradesh are demanding a local Coca-Cola bottling plant be prohibited from extracting water from the ground, claiming its over usage has led to water scarcity in the area, said an environmental campaign group. Full Article