Axis Bank Ltd's shares gain as much as 1.7 per cent to a record high of Rs 769.9.
The stock broke above a resistance at Rs 762.1.
Stock cuts above its parabolic SAR are seen as favourable for the stock.
Stocks were up 49.2 per cent in the last one year as of Tuesday's close, outperforming Nifty’s 13.4 per cent gains in the same period.