HDFC Mutual Fund Ups its Stake in Axis Bank
HDFC Mutual Fund has increased its stake in Axis Bank to 5.02%, up from 4.97%, reflecting the fund house’s confidence in the bank's future growth. As of January 6, 2025, HDFC Mutual Fund now holds 15,53,35,021 shares in Axis Bank, a rise from 15,38,45,705 shares previously.
This move comes after HDFC’s holding in Axis Bank rose notably during the December quarter, compared to the 4.42% stake it held at the end of the September quarter. Other major fund houses, including SBI, Nippon, and Kotak, also have stakes in Axis Bank.
Despite a challenging year for Axis Bank shares, which saw a 4% decline, the stock showed slight improvement in January. The shares have fluctuated between a 52-week low of ₹995.95 in April and a high of ₹1,339.55 in July 2024.