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Axis Bank leapfrogs rival as earnings rally reshapes banking ranks
Strong quarterly earnings triggered a rally in Axis Bank shares, lifting its market value above Kotak Mahindra Bank and reshaping India’s private banking hierarchy.
Axis Bank climbed past Kotak Mahindra Bank in market capitalisation following a sharp post earnings rally. Investors reacted positively to stronger profit growth, stable asset quality, and confident management commentary. The surge pushed Axis shares higher, reshaping the private banking leaderboard. Analysts said improved margins and controlled costs boosted sentiment, while Kotak shares lagged amid muted expectations and cautious near term outlook for sector peers.