Axis Bank gains over 2% as results beat estimates - NDTV

Reuters | Updated On: April 25, 2013 11:03 (IST) Axis Bank shares rose 2.6 per cent after the bank posted better-than-expected March quarter results. The results, which came on Wednesday, showed net profit was at Rs 1,555 crore versus estimates of Rs 1,277 crore. Other banking shares also rose with the NSE banking index trading up 1.3 per cent. State Bank of India was trading up 0.6 per cent, Punjab National Bank was up 1.2 per cent and Union Bank of India was up 1.7 per cent. Investors were broadly bullish on rate-sensitive stocks such as banks ahead of the central bank's monetary policy on May 3, where it is widely expected to cut the repo rate by 25 basis points. Copyright: Thomson Reuters 2013 For Profit Update, via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGRBc3sH8-odGVDyOcb48RXajUnbg&url=http://profit.ndtv.com/news/market/article-axis-bank-gains-over-2-as-results-beat-estimates-321380

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