Axis Bank Share Price: Long Term Benefits

MUMBAI, INDIA (GaeaTimes.com)-Bombay Stock Exchange witnessed Axis Bank Share Price commencing at a rate of Rs 1,195. Prior to this, the Axis Bank Share Price was reported to witness highest as of Rs 1,220 and lowest as of Rs 475. Reportedly, Axis Bank share price for Q4 financial year 2010 has witnessed a steady growth by 31.5% which is in accordance to their net profit of Rs. 764.9 crore. As a matter of fact, this is a little heavier than what was speculated by the stock market analysts. As calculated, the updated P/E ratio(Price to Earnings Ratio) and the EPS (Earnings per Share) for the entire stock was 20.01 and 62.06.

Axis bank’s Board of Directors have gone ahead to announce the approval of all senior notes which shall amount to a total of $350 million in accordance to the MTN (Medium Term Note) program carried out effectively by Dubai International Financial Centre. Following the process, Singapore Stock Exchange shall list out all notes.

Axis Bank share price denotes that the income of the bank this quarter has showed a slight increment by 0.96 % in accordance to a whopping sum of Rs 39,219.90 million from the last reported results that scored 38,847.30 million. As per the lower slippages are concerned, Axis Bank share Price in accordance to the provisioning expenses witnessed a down fall by 21% which had Rs201.9 crore in the current quarter which was again reportedly lower than what was expected by the financial brains. In the early part of the fiscal year, Axis Bank has also gone ahead to make efficient use of all its Accelerated Provisioning which had the provision coverage ratio resting at 72.4%.