MCLR For March Kept Unchanged At 7.90-8.35% By Axis Bank

Axis Bank has informed bourses that it has kept its marginal cost of funds-based rates unchanged for March. Axis bank, in the month of January cut its marginal cost of funds-based loan rates by 65-70 basis points to 7.90%-8.35%.

The bank did not change the rates for the month of February as well. Banks are now required to update their landing rates based on the marginal cost of funds on a monthly basis as instructed by Reserve Bank of India.

Axis Bank Ltd is currently trading at Rs 515.75, up by Rs 2.15 or 0.42% from its previous closing of Rs 513.6 on the BSE. The scrip opened at Rs 517.45 and has touched a high and low of Rs 517.9 and Rs 513.3 respectively. So far 1165644(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 122948.2 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 638 on 07-Sep-2016 and a 52 week low of Rs 411 on 16-Mar-2016. Last one week high and low of the scrip stood at Rs 525.7 and Rs 509.4 respectively.

The promoters holding in the company stood at 28.91 % while Institutions and Non-Institutions held 57.8 % and 8.93 % respectively. The stock is currently trading above its 200 DMA.

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