After two cuts in three months, the RBI kept the repo rate, at which the central bank lends to banks, unchanged at 7.5 percent on fears of unseasonal rains impacting food prices.
A day after major Indian banks cut lending rates, private sector lender Axis Bank on Wednesday cut base rate by 0.20 percent to 9.95 percent.
Nudged and prodded by RBI, leading banks including SBI , ICICI and HDFC Bank on Tuesday cut their lending rates by 0.15-0.25 percent despite the status quo in policy rate of the central bank, which did some tough-talking on the need for commercial lenders to bring down rates.
After two cuts in three months, the RBI kept the repo rate, at which the central bank lends to banks, unchanged at 7.5 percent on fears of unseasonal rains impacting food prices.
The cash reserve ratio, which is the amount of deposits parked with the central bank, will remain at 4 percent. Bank rate has also been retained at 8.5 percent.
Axis Bank stock price
On April 08, 2015, at 11:14 hrs Axis Bank was quoting at Rs 555.00, down Rs 3.9, or 0.7 percent. The 52-week high of the share was Rs 655.35 and the 52-week low was Rs 270.68.
The company's trailing 12-month (TTM) EPS was at Rs 29.61 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 18.74. The latest book value of the company is Rs 161.25 per share. At current value, the price-to-book value of the company is 3.44.
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