FPI holding in the private lender stood at 49.24 per cent in the September quarter, and had last hit a high of 50.75 per cent in the quarter ended September 2016.
As per the data, Axis Bank had 991 FPIs as of December 31, including Europacific Growth Fund, which owned a 1.9 per cent stake in the bank, Government of Singapore (1.06 per cent), Fidelity Investment Trust (Fidelity Series Emerging, 1.12 per cent), Oakmark International Fund (1.70 per cent), Dodge and Cox International Stock Fund (2.78 per cent), Vanguard Total International Stock Index Fund (1.10 per cent), Government Pension Fund Global ( 1.21 per cent) and BNP Paribas Arbitrage (1.16 per cent).
On Tuesday, shares of Axis Bank were trading 0.4 per cent higher at Rs 669.85 on BSE.
The scrip has rallied 135 per cent over its 52-week low of Rs 285.
Emkay Global said in its results preview that Axis Bank’s growth remains moderate, but an already high provisioning buffer should lead to reasonable profitability in the third quarter.
Slippages could remain elevated including proforma for Q2, it said, suggesting that one should watch out for corporate stress.
The bank is seen reporting a 7.1 per cent rise in net profit to Rs 18,82 crore, compared with Rs 1,757 crore in the year-ago period. Net interest income (NII) is seen growing 16.5 per cent YoY to Rs 7,515 crore from Rs 6,453 crore in the corresponding quarter last year. Net interest margin is seen flat at 3.6 per cent.
YES Securities said it expects the bank’s provisioning to be lower in Q3 than Q2, given the substantial buffer held by the bank. It expects growth on the back of retail and SME segments.
Motilal Oswal expects credit cost to stay elevated for the lender. Restructuring, and the BB and below pool will remain under watch, it said.
The bank will announce its third quarter results on January 27.
