Axis Bank Shares Surge To Record High Of ₹1,339.65 Amid Ex-Dividend Trading

Axis Bank, one of the leading banking institution in the country, shares reached a new lifetime high of Rs 1,339.65 per share in the NSE during the Friday's trading session.

Recently, the bank made headlines due its development affecting its stocks and internal employee incentives. Since June 2024, the share price of the bank has been on a significant uptick, with the shares hitting a new lifetime high today.

Shares performance

The shares of Axis Bank on Friday at 3:30 pm IST ended the week at Rs 1,317.00, up by 20.25 points or 1.56 per cent.

On NSE, the shares of Axis Bank opened at RS 1,293.90, reached a high of Rs 1,339.65, and traded at a low of Rs 1,293.90 during the trading session.

Meanwhile on BSE, the shares closed at Rs 1314.90, up by 18.10 points or 1.40 per cent.

Ex-Dividend Trading

In the latest development, the Bank is trading ex-dividend which is a crucial event the stock price adjusts to account for the dividend payment. The bank has declared a dividend of Rs 1 per share, to its eligible employees.

Employee Stock Options Scheme

As per the regulatory filing, on July 11, Axis Bank announced that the Nomination and Remuneration Committee of the company has approved grant of 86,261 stock options to the eligible employee(s) of the Bank at an exercise price of Rs. 1,291.65 per option under the Axis Bank Employees Stock Option Scheme 2000-01.

Key Details of Employee Stock Options

1) Options Granted- 86,261 options granted to eligible employees.

2) Vesting Schedule - Options vest over a period of three years

- 30 per cent at the end of 1 year

- 30 per cent at the end of 2 years

- 40 per cent at the end of 3 years

3) Exercise Period - Options can be exercised within 5 years from the respective vesting dates.