Axis Bank hits 2-year high on strong demand to QIP issue

Axis Bank, India's third largest private sector bank, climbed to 2-year highon Tuesdayonreportsthe bank has received good demand for a share sale of up to USD 1 billion through a qualified institutional placement (QIP).

Shares ofthe bankare trading at Rs 1,474.65, up Rs 59.6, or 4.21% at the Bombay Stock Exchange (BSE) on Tuesday at 10:32 a.m.

Currently, the stock is trading at 2-year high, which is above 59.94% over the 52-week low of Rs 922.The scrip has touched an intra-day high of Rs 1,474.95 and low of Rs 1,418.50. The total volume of shares traded at the BSE is 232,272.In the earlier session, the shares climbed 2.24%, or Rs 30.95, at Rs 1,415.05.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 1,389.35 25.70 1.85 1 Month 1,358.55 56.50 4.16 3 Months 1,183.65 231.40 19.55 6 Months 1,057.70 357.35 33.79 1 Year 1,023.75 391.30 38.22 Note: Based on previous day closing price.