Axis Bank Limited, formerly known as UTI Bank (1993–2007), is an Indian banking and financial services company headquartered in Mumbai, Maharashtra. It sells financial services to large and mid-size companies, SMEs and retail businesses.
Axis Bank is the third largest private sector bank in India offering an entire comprehensive spectrum of financial services to customer segments covering Large and Mid-Corporates, Micro, Small and Medium Enterprises (MSME), Agriculture and Retail Businesses
To be the preferred financial solutions provider excelling in customer delivery through insight, empowered employees and the smart use of technology.

To calculate beta of AXIS BANK and its significance

Data of AXIS BANK from 01-01-2022 to 31-12-2022 was downloaded from the NSE website.
• Friday’s weekly closing prices have been found out.
• Weekly Return have been calculated with the formula of (Y2-Y1)/Y1*100
• The Weekly Return of Equity has been regressed on the Weekly Return of Nifty

Weekly Return of Adani Ports = 4.97786E-11 + 1 Weekly Return of Nifty
• t-stat = 1.227
• R2 = 1
• F = 3.15E+21
• N = 49
The above equation tells us about the relationship between the Weekly Return of AXIS BANK & Weekly Return of Nifty 50. The negative sign means that there is an inverse relationship. If nifty 50 rises, equity falls and, if nifty 50 falls, equity rises. The co-efficient of the weekly return of nifty is 1, which means if nifty rises by 1 unit, Axis bank will fall by 1 units and vice versa.
• The number of Observations is 49 and the t-stat is 1.227912.
• The p-value is 0, which is more than 0.05, means that b is statistically insignificant at 5%. Even if it is more than 0.01, b is statistically insignificant at 1%

CONCLUSION – Since b = 1.3666925 is more than 1, it is statistically significant.
Axis bank is a good option for investment because for every increase in nifty there will an increase in the equity of axis bank.