Axis Bank Signs Agreement With Mswipe Tech


Axis Bank signed an agreement for sale of 1,90,500 equity shares of face value of Rs 1 per share of Mswipe Technologies Private Limited at Rs 4,249 per share, resulting in a total cash consideration of Rs 80.94 crore.

The stock was losing its sheen in the morning hours on Wednesday. It touched intraday low of Rs 508.9 per share down by 0.5%. Meanwhile, Bank Nifty was trading lower by 34 points at 23,663 level.

Other bank stocks including IndusInd Bank, Yes Bank, Federal Bank, ICICI Bank and HDFC Bank were trading in the negative territory dragging down the Bank Nifty index. HDFC is the top contributor to the Sensex losses.

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