Axis Bank shares fell over 3% to a low of 1,014.65 on the NSE on Wednesday. 33.2 lakh shares are reported to have changed hands in this block deal.
Now news is coming about the block deal. Information about buyers and sellers could not be immediately obtained.
Axis Bank shares saw a strong jump as 92 lakh shares were being traded on NSE around 2 pm.
Axis Bank shares are lagging the market and have declined about 8% in the last one year. The decline so far in 2025 is 4.5%.
The overall negative sentiment prevailing in the market and the poor performance of the bank itself has further increased the weakness in Axis Bank shares.
Nifty’s 1-year gain was 5% while banking gauge Nifty Bank recorded a gain of less than 1%.
The private lender will announce its Q3FY25 earnings on Thursday, January 16, 2025, where it is expected to report lower-than-expected loan growth, with provisions also expected to rise.
According to the average estimate of five brokerages, net profit is likely to grow by 4% year-on-year (YoY) in the reporting period. Meanwhile, net interest income (NII), which is the difference between interest spent and interest earned, could grow by 9% YoY.
Earnings will be primarily impacted by provisions, which analysts estimate will more than double from the prior-year period.
Analysts are expecting loan growth of 11% YoY and 4% QoQ during the third quarter, while asset quality ratios are expected to increase slightly.
