|Bid||675.20 x 0|
|Ask||675.55 x 0|
|Day's range||669.70 - 682.65|
|52-week range||285.00 - 760.60|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||110.95|
|Forward dividend & yield||N/A (N/A)|
|1y target est||666.77|
Axis Bank <AXBK.NS> said on Monday it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17% from 29%. The private-sector lender's move comes months after media reports said the deal, announced in April, ran into a regulatory roadblock over certain clauses in the agreement. The lender and the insurer did not immediately respond to requests for comment.
Axis Bank Ltd, India's third biggest private-sector lender, on Tuesday posted a surprise fourth-quarter loss of 13.88 billion rupees ($182.96 million), as it set aside more funds to cover a potential rise in bad loans in a coronavirus-hit economy. Mumbai-based Axis Bank booked provisions of 77.30 billion rupees for the quarter, or nearly three times higher than the year-ago period, including 30 billion rupees towards COVID-19. Separately on Tuesday, Axis Bank said it would buy a 29% stake in insurer Max Life Insurance for about 15.90 billion rupees, giving the lender a seat among rival banks who already have a foothold in the country's life insurance industry.
Axis Bank Ltd said on Tuesday it would buy a 29% stake in insurer Max Life Insurance, giving India's third largest private-sector lender a seat among rival banks who already have a foothold in the country's life insurance industry. Axis Bank, which already holds a minority stake in Max Life, will buy shares from the insurer's majority owner Max Financial Services Ltd to raise its stake to 30%, the Mumbai-based lender said in a regulatory filing https://www.bseindia.com/xml-data/corpfiling/AttachLive/2c1d5f72-4f39-47a3-8bba-4ba5e0d0310a.pdf. Max Financial will hold a 70% stake in the joint venture partnership.