Price Action: Axis Bank shares fall 3.5% post Q2 earnings; Dodla Dairy slips 4%
On the sectoral front Nifty PSU Bank index added more than 2 percent and Private Bank index shed 1.5%, while selling was also seen in the FMCG, IT, media, and realty names.
Stock-specific action remained in focus on Dalal Street on October 19, with investors reacting to corporate developments and quarterly earnings. Bharat Forge shares declined 1.7% after the company invested Rs 240 crore in subsidiary Kalyani Strategic Systems through a rights issue, of which Rs 163 crore will be invested in Agneyastra Energetics. Shares of Axis Bank shed 3.5% despite the bank reported a 35.6% year-on-year jump in standalone Q2 profit to Rs 7,003.3 crore, while net interest income grew 11.8% to Rs 15,371.4 crore.
