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The Nifty Bank index was trading 0.36 per cent up at 36464.35.

Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 233249.66 Crore).

“The black horse in the metal space could be Vedanta where concerns over debt, the holding company are gradually receding and with better corporate governance standards, more transparency, better communication, one may see a re-rating of the stock and pure focus on mining and metals. That makes Vedanta quite special and that company also is expanding its capacities rapidly in a very low cost, mostly brownfield projects. ”

The plan, it told exchanges, is to buyback shares, not exceeding 5,69,85,463 fully paid up equity shares of face value of Rs 10 each at a price of Rs 190.

A total of 9,288 shares changed hands on the counter till 11:52AM (IST).

The capex plan includes $4.5-4.8 billion of investments in US-based subsidiary Novelis. It included the first $2.5 billion greenfield project in the US in 20 years.

“We are operating in a stagflationary environment. Globally, monetary liquidity is coming down. I appreciate the rally today and we remain constructive on India. Let us acknowledge that there are some dark storm clouds on the horizon. However, India is now in a far better position to weather the dark storm clouds than they have been in the past,” says Michael Dommermuth.

"I believe that ESG is, at its core, a feel-good scam that is enriching consultants, measurement services and fund managers, while doing close to nothing for the businesses and investors it claims to help, and even less for society," Aswath Damodaran wrote in his blog.

“Once the consideration is paid and consent of customers taken, the technology platform has to be tackled and Axis will gradually start migrating the customers of Citibank of different parts of their business to Axis Bank. As for payment, right now, we can easily pay it out of our balance sheet.”

Gold futures on MCX were trading down 0.34 per cent or Rs 178 at Rs 51,598 per 10 grams. Silver futures were trading lower by 0.82 per cent or Rs 556 at Rs 66,850 per kg.