Axis Bank Stock Rebounds Despite Posting Surprise Loss In March Quarter

Gold Silver Reports (GSR) – Axis Bank Stock Rebounds Despite Posting Surprise Loss In March Quarter – Shares of the Mumbai-based private sector lender rose as much as 5.88 percent, the most in over two months, to Rs 522.80. Axis Bank reported its first ever quarterly loss since listing as the bank accelerated recognition of bad loans, leading to a surge in provisions.

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Emami Gains After Board Plans To Consider Bonus Issue

Gold Silver Reports (GSR) – Emami Gains After Board Plans To Consider Bonus Issue – Shares of the healthcare product maker rose as much as 7.3 percent, the most in over three months to Rs 1,204. The company said in a stock exchange filing that it plans to consider bonus shares and a dividend at a board meeting on May 3.

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Raymond Rises On Thane Land Development Plans

Gold Silver Reports (GSR) – Raymond Rises On Thane Land Development Plans – Shares of the Mumbai-based textile maker rose as much as 4.54 percent, the most since April 9, to Rs 1,113 after its board approved Rs 300 crore development plan for 20 acres of land in Thane near Mumbai. Meanwhile, Raymond’s net profit in March quarter fell 61 percent to Rs 53 crore while its revenue rose 11 percent to Rs 1,630 crore.                 

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Indian Equity Benchmarks came off Intraday Highs

Gold Silver Reports (GSR) – Indian equity benchmarks came off intraday highs as gains in TCS, Kotak Mahindra Bank and Hindalco were offset by losses in Bharat Petroleum, Axis Bank, State Bank of India and Indian Oil.

The S&P BSE Sensex rose 0.26 percent or 90 points to 34,192 and the NSE Nifty 50 index advanced 0.2 percent or 22 points 10,481.                                  

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