Axis Bank shares surge 8 pc, mcap rises by Rs 9,295 cr

New Delhi: Shares of Axis Bank surged 8 per cent on Tuesday, adding Rs 9,295.5 crore to its market valuation, amid reports of fund raising. The scrip zoomed 8 per cent to settle at Rs 523.05 on BSE. During the day, it jumped 9.22 per cent to Rs 529.

At NSE, shares of the company soared 8 per cent to end at Rs 523.15. The stock was the biggest gainer on both the key indices. The company's market valuation rose sharply by Rs 9,295.5 crore to Rs 1,25,413.50 crore.

In terms of equity volume, 24.36 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day. Earlier in the day, BSE had sought clarification from the company with reference to the news that Bain Capital and others are in talks with Axis Bank to pick up 5 per cent equity stake.

Later, the company in a clarification to BSE said, "As regards the news item under reference, which has appeared in the media today, kindly note that the Bank in the ordinary course of its business continues to explore various means of raising capital/funds through issuance of the securities (equity and debt) to diverse set of investors, in order to meet its business/ regulatory requirements, subject to compliance with prescribed procedures and receipt of statutory /regulatory approvals."

We are cognizant of our disclosure requirements under the Listing Regulations and the Bank shall keep your exchange duly informed as and when any decision is taken by it with respect to any capital/fund raise exercise, it added.