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SBI to seek board approval for funds; Axis Bank raises $500 mn
State Bank of India’s board will meet on May 12 to consider raising up to $2 billion through long-term foreign currency bonds in FY27 via public offers or private placements. Meanwhile, Axis Bank has secured a $500 million three-year loan from Japan’s MUFG at SOFR plus 85 basis points, with the funds aimed at lending and general business needs.
Axis Bank, HDFC Bank, other bank stocks drop up to 2%, Nifty Bank falls 440 points. What lies ahead?
Banking stocks dragged the Nifty Bank index lower by nearly 440 points amid weakness in heavyweight lenders like HDFC Bank and Axis Bank. Broader market pressure from rising oil prices and FII outflows weighed on sentiment, while analysts flagged key support and resistance levels for the index in the near term.
Rajesh Palviya of Axis Sec suggests NBCC, Lupin, RBL Bank shares to buy today - 8 May - Mint
Rajesh Palviya of Axis Sec suggests NBCC, Lupin, RBL Bank shares to buy today - 8 MayMint
Axis Bank Share Price Live Updates: Axis Bank achieves notable monthly returns
Stocks in news: SBI, Titan, Hyundai, BSE, Torrent Pharma, Axis Bank
Indian markets saw volatile trading on Thursday, closing nearly unchanged despite positive signals. Several companies including SBI, Titan, and Hyundai are in focus today. Many firms will announce their fourth-quarter results. Britannia Industries reported strong profit growth and recommended a dividend. BSE also posted a significant profit surge. Bharat Forge's profit declined, while Dabur India saw a profit uptick.
India's Axis Bank Raises $500 Million In Offshore Loan From MUFG
Axis Bank has secured the loan facility, with MUFG acting as the sole mandated lead arranger and bookrunner, Girish Vasnani, director in the capital markets group at the Japanese lender.
Axis Bank raises $500 million in offshore loan from MUFG
Axis Bank, India's third-largest private lender, has secured a $500 million offshore loan from Mitsubishi UFJ Financial Group. This three-year facility will support the bank's lending and general business needs. The loan comes as Indian banks face challenges with loan growth outpacing deposit growth. Axis Bank's loans grew 19% while deposits rose 14% in the year ended March.
Axis Bank Share Price Live Updates: Axis Bank's trading session summary
Axis Bank Share Price Live Updates: Axis Bank's Trading Summary
Axis Bank Share Price Live Updates: Axis Bank's stock price update
Axis Bank opens its first digital locker-focussed branch
Axis Bank has opened its first digital locker branch in New Delhi. This new facility aims to provide advanced security and customer experience through automated locker services. The bank is responding to a growing demand for safe deposit lockers, especially in urban areas. Industry estimates predict a significant increase in locker requirements by 2030.
Banks create buffers to cover war-related credit risks
Indian banks are strengthening their finances. They are creating special funds to handle risks from the West Asia crisis. This proactive step aims to protect against potential credit issues. Banks like Axis Bank, Union Bank of India, Indian Overseas Bank, and Indian Bank are setting aside significant amounts. This move ensures resilience and prudent risk management amid global uncertainties.