Axis Bank, private sector bank in India, witnessed a rise in share price on Friday after the bank reduced its base rate to 10.15% per annum from 10.25% per annum with effect from Oct. 15, 2014. Accordingly, the effective rate applicable to various fund based credit limits which are linked to the bank's base rate will reduce by 10 basis points.
Shares of the bank trading at Rs 397.90, up Rs 4, or 1.02% at the Bombay Stock Exchange (BSE) on Friday at 11:02 a.m.
The scrip has touched an intra-day high of Rs 399.50 and low of Rs 395. The total volume of shares traded at the BSE is 153,137.