Private Banks See Stock Gains Following Q2 Business Updates
· Business · LiveMint, Economic Times
Shares of Kotak Mahindra Bank, Axis Bank, and IndusInd Bank rose on October 6 following the release of their provisional business updates for the September quarter. Kotak Mahindra Bank saw its stock price climb 4% to ₹432.75 on the BSE, while IndusInd Bank rose 2.3% and Axis Bank gained 1.7%. Axis Bank reported a 22.7% year-on-year increase in gross advances to ₹13,84,600 crore, though its CASA growth lagged behind term deposit growth. Investors are evaluating the varying deposit compositions and CASA ratios across these three private-sector lenders.
Why it matters
These updates provide investors with a pulse on the credit growth and deposit mobilization strategies of major Indian private banks.
Read the original report — LiveMint
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