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.