ICICI Securities has buy call on Axis Bank with a target price of Rs 814. The current market price of Axis Bank Ltd. is Rs 621.2.
Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 191428.38 Crore).
Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 191428.38 Crore).
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated Interest Income of Rs 12411.79 Crore, down 3.30 % from last quarter Interest Income of Rs 12835.67 Crore and up 1.87 % from last year same quarter Interest Income of Rs 12183.88 Crore. The bank reported net profit after tax of Rs 1849.05 Crore in latest quarter.
Investment Rationale
Credit cost for FY22 to settle much lower than expected; contingency buffer to cushion earnings volatile; relatively asset profile and capital buffer places it relatively better than earlier cycle
Promoter/FII Holdings
Promoters held 14.5 per cent stake in the company as of Sept 30, 2020, while FIIs held 49.2 per cent, DIIs 24.2 per cent and public and others 12.1 per cent.
