Axis Bank overtakes Kotak Mahindra Bank, becomes 4th largest lender by market cap

Jaipur, April 25, 2024.

Axis Bank on Thursday surpassed Kotak Mahindra Bank to become the fourth-largest banking stock on Dalal Street.

Axis Bank’s shares rose by 4% due to better-than-expected Q4 results, while Kotak’s shares dropped by 10% following an RBI ban on digital customer sourcing and new credit card issuance.

As a result, Kotak’s market value fell to Rs 3.3 lakh crore, while Axis Bank’s rose to Rs 3.4 lakh crore.