Axis Bank shares gain over 3 per cent; mcap rises by Rs 3,908 crore

New Delhi: Shares of Axis Bank today went up by over 3 per cent, adding Rs 3,908 crore to its market valuation, after the company's board approved raising USD 10 million by allotting debt securities.

The stock gained 3.23 per cent to end at Rs 502.95 on BSE. Intra-day, it rose by 3.64 per cent to Rs 504.95. At NSE, shares of the company jumped 3.21 per cent to close at Rs 502.80.

Led by the gain in the stock, the company's market valuation climbed Rs 3,907.87 crore to Rs 1,20,415.87 crore on BSE. On the volume front, 89.66 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.

Axis Bank yesterday said its board has approved raising USD 10 million by allotting debt securities through MTN programme to be launched from Dubai International Centre.

The board of directors of the bank has passed a resolution approving the allotment of 3 year senior floating rate notes aggregating to USD 10 million under the MTN programme, the bank said in a regulatory filing.

It said the capital will be raised through its Dubai International Financial Centre (DIFC) branch.