India's Reliance Infra, Axis Bank shake off weakness after apex court contempt notice
Updates with Axis Bank's response, stock levels at close
** Shares of Reliance Infrastructure RLIN.NS gives up most of the session's losses to end flat; Axis Bank AXBK.NS reverses course to rise 0.2%
** RLIN said India's Supreme Court issues show-cause notice to co's unit, Delhi Airport Metro Express Pvt Ltd, and Managing Director of AXBK
** Notice from Supreme Court asks why contempt proceedings should not be initiated against them for violation of directions contained in an April 2024 judgment
** RLIN said its unit will take "appropriate steps to protect its interest" in the matter, adding financial implications are unascertainable at this stage
** Contempt petition not been served on the bank, Axis Bank spokesperson says, adding will review the contempt petition on receipt and take appropriate legal recourse
** RLIN logs first weekly loss in three; AXBK shares snap four-session losing streak
** RLIN has risen over 40%, while AXBK has gained 4% YTD
Reporting by Hritam Mukherjee in Bengaluru
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