Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 219563.55 Crore).
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 21028.45 Crore, up 5.61 % from last quarter Total Income of Rs 19910.93 Crore and up 1.17 % from last year same quarter Total Income of Rs 20786.23 Crore. The bank reported net profit after tax of Rs 2941.41 Crore in latest quarter.
Investment Rationale
Given the healthy asset mix, liability strength, adequate capital and superior customer profile, the brokerage believes the bank is poised to face near term challenges and benefit in the phase of normalisation. It continues to remain positive on the company over medium to longer term perspective and maintain BUY rating on the stock with a revised target price of Rs.830 per share.
Promoter/FII Holdings
Promoters held 13.9 per cent stake in the company as of Dec 30, 2020, while FIIs held 51.4 per cent, DIIs 23.2 per cent and public and others 11.5 per cent.
