Axis Bank up by 3%; refutation of rumours related to CEO's resignation
Nidhi Jani / 22 Mar 2017
Axis Bank clarified that its MD & CEO Shikha Sharma is not resigning.There also was speculation that Kotak Mahindra Bank and Axis Bank have initiated merger moves. Axis Bank had denied this rumour as well.
Today, Axis Bank clarified that its MD & CEO Shikha Sharma is not resigning. Bank has also given a notification to BSE, stating, "The news appearing in sections of social media stating the impending resignation of the MD & CEO of the Bank, which please note is false, speculative and is being circulated with the malafide intention of misleading the investors and the general public."
Axis Bank has been under pressure over a sharp fall in third quarter profits, along with Income Tax Department's raids on some of its branches, post demonetisation.
Axis Bank had reported 73 per cent decline in net profit to Rs 580 crore for the October-December quarter on account of rise in bad loans.
There also was speculation that Kotak Mahindra Bank and Axis Bank have initiated merger moves. Axis Bank had denied this rumour as well.
In today's trade, the stock of Axis Bank is up by almost 3%, touching intraday high of Rs 502.
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