Axis Bank up 5% on investment news

Axis Bank was up 5% at around 11:15 AM today, riding a media report that private equity fund Bain Capital may buy up to 5% stake in the bank. The investment will come as a primary issuance of shares through a preferential allotment that will allow Bain Capital to own up to 5% of Axis Bank, according to the report.

Shares of Axis Bank have been up 12% so far in 2017 and Nifty Bank index has been up 37.7%.
Axis Bank Ltd is currently trading at Rs 508, up by Rs 23.7 or 4.89% from its previous closing of Rs 484.3 on the BSE.
The scrip opened at Rs 492.6 and has touched a high and low of Rs 510.6 and Rs 492.6 respectively. So far 13979120(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 116125.65 crore.
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