Axis Bank Limited
Nippon India Mutual Fund increased its stake in Axis Bank Limited from 3.50% to 3.83%, purchasing 1,02,92,357 shares for approximately ₹1,281.40 crore at ₹1,245.00 apiece.
A private sector bank incorporated in 1993, this institution provides comprehensive banking and financial services across India. It operates the third-largest branch network among private banks in the country and maintains a significant international presence through branches in Dubai and Singapore, along with representative offices in Abu Dhabi, Sharjah, Dhaka and Dubai, complemented by an offshore banking unit in GIFT City.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.