Axis Bank shares rise over 4 per cent on Q4 result

Shares of Axis Bank, India's third largest private sector lender, gained over 4 per cent on Bombay Stock Exchange (BSE) on Thursday after the company reported 18.4 per cent rise in quarterly net profit, ahead of analysts' estimates.

The Mumbai-based bank said net profit rose to Rs 2,181 crore ($344.6 million) in its fiscal fourth quarter to March 31, from Rs 1,842 crore a year earlier.

Shares of the bank were trading at Rs 576.10 per share, up by 4.20 per cent at 12:30 pm.