Axis Bank Surpasses Kotak Mahindra Bank in Market Cap on Bank Strike Day
Personal Finance
C
CNBC Awaaz•27-01-2026, 17:45
Axis Bank Surpasses Kotak Mahindra Bank in Market Cap on Bank Strike Day
- •Axis Bank's shares soared by 4.6% to ₹1,315.80, marking its largest single-day gain since October 2024.
- •Axis Bank's market capitalization reached ₹4.10 lakh crore, surpassing Kotak Mahindra Bank to become India's third-largest private bank.
- •Kotak Mahindra Bank's market value decreased by approximately ₹15,000 crore on Tuesday, while Axis Bank's increased by ₹18,000 crore.
- •Strong quarterly results, improved asset quality, reduced credit costs, and robust loan growth fueled Axis Bank's rally.
- •Brokerage firms like Citi and Nuvama upgraded Axis Bank's outlook, citing strong business visibility and potential for faster growth.
Why It Matters: Axis Bank achieved a historic market cap milestone, becoming the third-largest private bank in India.
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