Axis Bank share price plummets 29%, biggest loss since late Jan
Economy

Axis Bank share price plummets 29%, biggest loss since late Jan

Agency News

Shares of Axis Bank lost as much as 29 percent on March 23, the day when the market entered into the red.

The scrip has been on a decline since the last six consecutive sessions and has now hit a new 52-week low of Rs 302.05 on the BSE. At 14:56 hrs, the private lender was quoting Rs 310.60, down 27.49 percent on the BSE.

Banking stocks have been under pressure since the widespread of Covid-19 as analysts expect the outbreak to hit the domestic and global economy, and also corporate earnings. This will, in turn, lead to higher NPAs for banks.

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