It has hit its 11-month high after the RBI allowed foreign investors to up their stakes in Axis Bank up to 74%. The stock of Axis Bank rose as much as 1.76% to Rs 574.70 on the BSE and settled the day 0.94% higher. The hike in foreign investment limit in Axis Bank follows permission granted by the government to raise foreign shareholding ceiling to 74%.

Shares of Axis Bank rally 2%

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