DERIVATIVES FUTURE : BUY AXIS BANK

• August 3, 2021
• By Ruhul AMIN Mondal
• 398 Views 245 comments

Axis Bank Limited is an Indian banking and financial services company headquartered in Mumbai, Maharashtra.^[7] It sells financial services to large and mid-size companies, SMEs and retail businesses.^[1] As of 30 June 2016, 30.81% shares are owned by the promoters and the promoter group (United India Insurance Company Limited, Oriental Insurance Company Limited, National Insurance Company Limited, New India Assurance Company Ltd, GIC, LIC and UTI).^[8] The remaining 69.19% shares are owned by mutual funds, FIIs, , insurance companies, corporate bodies and individual investors. The bank was founded on 3 December 1993 as UTI Bank, opening its registered office in Ahmedabad and a corporate office in Mumbai.^[10]  Axis Bank was promoted jointly by the Administrator of the Unit Trust of India (UTI),^[11] Life Insurance Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The New India Assurance Company, The Oriental Insurance Corporation and United India Insurance Company. The first branch was inaugurated on 2 April 1994 in Ahmedabad by Manmohan Singh, then finance minister of India. In 2001 UTI Bank agreed to merge with Global Trust Bank, but the Reserve Bank of India (RBI) withheld approval and the merger did not take place. In 2004, the RBI put Global Trust under moratorium and supervised its merger with Oriental Bank of Commerce. The following year, UTI bank was listed on the London Stock Exchange.^[13] In the year 2006, UTI Bank opened its first overseas branch in Singapore. The same year it opened an office in Shanghai, China. In 2007, it opened a branch in the Dubai International Financial Centre and branches in Hong Kong.^[14]

Script Name –AXISBANK

Expire Date-AUGUST

Buy Price –731

Profit Target-750

Stop Loss-720

Call Duration-CARRY FORWARD

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