India's Axis Bank up on acquiring further stake in Max Life

Max Financial Services

19/06/2024 09:19

** Shares of Axis Bank  AXBK.NS  rise 2.2% to 1,218 rupees
    ** AXBK among top gainers on Nifty 50 index  .NSEI , which
is down 0.07%
    ** The lender said on Wednesday it approved acquisition of
additional shares of Max Life Insurance for 3.36 bln rupees
($40.3 mln), increasing aggregate shareholding in Max Life to
19.99% from 19.02%
    ** Forty analysts covering the stock on avg have a "buy"
rating; median PT is 1,305 rupees - LSEG data
    ** Stock up 16% so far in June-qtr, eyes best quarterly gain
since Dec. 2022



($1 = 83.4087 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))