Axis Bank overtakes Kotak Mahindra Bank, becomes 4th largest lender by market cap

Newsdesk:

Axis Bank on Thursday surpassed Kotak Mahindra Bank to become the fourth-largest banking stock on Dalal Street.Axis Bank's shares rose by 4% due to better-than-expected Q4 results, while Kotak's shares dropped by 10% following an RBI ban on digital customer sourcing and new credit card issuance.As a result, Kotak's market value fell to Rs 3.3 lakh crore, while Axis Bank's rose to Rs 3.4 lakh crore. HDFC Bank remains the most valuable Indian bank, followed by ICICI Bank and SBI.