Axis Bank shares up 22%

* Axis Bank shares gained as much as 3.2 percent after posting a 22.2 percent jump in July-September earnings.

* Axis Bank's second-quarter earnings were 4 percent ahead of estimates on a pickup in fee income (up 17 percent on quarter) and margin expansion (up 10 basis points on quarter), Credit Suisse said in a note, maintaining an 'outperform' on the stock.

* Barclays says the key positive in the second-quarter earnings was the traction in the retail business and asset quality (in terms of slippages and restructuring) which held up in the quarter. However, the rating trends continue to weaken.

* Analysts waiting more details from conference call at 11:30 a.m India time.

* At 11.03 a.m., Axis shares gained 2.9 percent at 1,151.00 rupees.

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