Axis Bank Q3 Results 2023 Date
Contents
- 1 What is the NPA of Axis Bank 2023?
- 2 What is the result of Axis Bank?
- 3 What is the long term target for Axis Bank?
- 4 Is Axis Bank a trusted Bank?
- 5 What is the record date for Axis Bank dividend 2023?
- 6 What is the share price target for Axis Bank in 2024?
- 7 Why Axis Bank shares falling?
- 8 What is the growth of Axis Bank in last 5 years?
What are the results of Axis Bank 2023?
Axis Bank reported a standalone net profit of Rs 5,797.10 crore for the quarter ended June 2023, up 40% year-on-year (YoY) over Rs 4,125.26 crore profit reported by the company in the corresponding period of the last financial year. An ET NOW poll of analysts had anticipated the profit figure at Rs 6,000 crore.
- The bank’s net interest income (NII) grew 27% YoY and 2% QoQ to Rs 11,959 crore.
- Net interest margin (NIM) for Q1FY24 stood at 4.10%, up 50 bps YoY.
- The interest earned during the reporting quarter stood at Rs 25,556.77 crore which was 36% higher from Rs 18,728.65 crore in the corresponding quarter of the previous financial year.
The interest expended for the reporting quarter stood at Rs 13,598 crore which was up by over 45% YoY from Rs 9,344.64 crore the company paid in the corresponding quarter of FY23. The fee income grew 28% YoY whereas the retail fee grew 37% YoY while the granular fee at 94% of the total fees.
The quarterly earnings were announced after market hours. The stock settled 1.4% higher on the NSE. The bank’s operating profit for the quarter grew 50% YoY to Rs 8,814 crore, while the core operating profit for Q1FY24 grew 27% YoY to Rs 8,295 crore. Commenting on the results Amitabh Chaudhry, Managing Director and CEO of Axis Bank said: “We are striving to create a distinctive new age bank that provides seamless banking solutions to customers, giving wings to their financial dreams and aspirations.
We have been constantly raising the bar – strengthening our digital capabilities and building on our robust pipeline of products and services while keeping customer centricity at the core of every initiative”. “With India’s strong macro environment supporting growth and providing abundant opportunities, we are geared up and confident of delivering sustainable growth across all our priority businesses,” he added.
Key Highlights 1) Consolidated Return on Assets (ROA) stood at 1.83%, up 35 bps YoY with 3 bps contributed by subsidiaries.2) On a QAB (Quarterly Daily Average Basis) CASA ratio stood at 44%, up 151 bps YoY and 31 bps QoQ, Savings Account up 20% YoY & 10% QoQ, Current Account up 17% YoY.3) Domestic advances rose 26% Y0Y and 2% QoQ, with retail rising 21% YoY and 2% QOQ, SME up 24% YoY, and corporate 25% higher.4) Overall CAR stood at 17.74% with the CET 1 ratio of 14.38%, net accretion to CET-1 of 36 bps in Q1FY24.5) GNPA% at 1.96% declined by 80 bps Y0Y while NNPA at 0.41% declined by 23 bps YOY.6) 1.11 million credit cards issued in Q1, CIF market share2 of 14% as of June 2023, spends up 78% YoY and 28% QoQ.7) The bank claimed to be the 2nd largest player in Merchant Acquiring with a market share of 18.4%, an incremental share of 28% last year.
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What is the price target of Axis Bank in 2023?
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| Axis Bank Share Price Target 2025 | Maximum Price | Minimum Price |
| January 2025 | ₹1,322.46 | ₹1,017.27 |
| February 2025 | ₹1,356.37 | ₹1,043.36 |
| March 2025 | ₹1,409.26 | ₹1,084.05 |
| April 2025 | ₹1,381.63 | ₹1,062.79 |
| May 2025 | ₹1,341.39 | ₹1,031.84 |
| June 2025 | ₹1,401.75 | ₹1,078.27 |
| July 2025 | ₹1,374.27 | ₹1,057.13 |
| August 2025 | ₹1,416.77 | ₹1,089.82 |
| September 2025 | ₹1,466.36 | ₹1,127.97 |
| October 2025 | ₹1,504.48 | ₹1,157.29 |
| November 2025 | ₹1,542.09 | ₹1,186.23 |
| December 2025 | ₹1,580.65 | ₹1,215.88 |
The Axis Bank share price target for 2025 ranges from ₹1,017.27 to ₹1,580.65, with an average target of ₹1,298.51. The prices are expected to rise steadily from January 2025 till March 2025, with a slight dip in April and May, 2025. The maximum price target for Axis bank in 2025 is Rs.1,580.65 and is expected to reach in December 2025.
What is the NPA of Axis Bank 2023?
Asset Quality As on 30th June, 2023 the Bank’s reported Gross NPA and Net NPA levels were 1.96% and 0.41% respectively as against 2.02% and 0.39% as on 31st March, 2023. Recoveries from written off accounts for the quarter was `554 crores.
What is the result of Axis Bank?
Axis Bank Q1 Result: Net profit jumps 41% to ₹5,797 crore; NII up by 27% Axis Bank released its Q1 results on Wednesday and reported a net consolidated profit of ₹ 5,797 crore which was 41% higher than ₹ 4,125 crore reported during the corresponding quarter in the previous fiscal.
Is Axis Bank bullish or bearish?
Is Axis Bank share bullish or bearish? – As far as the 50-SMA Classic Moving Average is concerned, is currently Bullish while the 50-EMA Exponential Moving Average indicates that the stock price is Bullish. View real-time moving averages and pre-built indicators to (tv.dhan.co) for free on Dhan! 03
Is Axis Bank stock good for long term?
Shares of Axis Bank fell 2% after the lender reported a higher-than-expected loss in Q4 due to the acquisition of Citi’s India retail business. However, brokerages are optimistic about the bank’s performance in the future, with Kotak Institutional Equities maintaining a buy rating and Jefferies noting that valuations are at a 30% discount to ICICI Bank and could narrow given the reducing gap on return on assets and return on equity. Agencies NEW DELHI: After the private lender reported a higher-than-expected loss in Q4 due to the acquisition of Citi’s India retail business, Axis Bank shares slipped 2% on Friday but brokerages see scope for re-rating. The bank’s net interest income (NII) grew 33% year-on-year (YoY) aided by 73 bps rise in NIM (net interest margin).
Otak Institutional Equities is factoring a lower NIM for FY2024. “Asset quality metrics showed marginal improvement. We find the CET-1 ratio to be comfortable for near-term business requirements at 14% even though it is lower than its peers,” it said. Jefferies noted that Axis Bank valuations are at a 30% discount to ICICI Bank and can narrow given the reducing gap on ROA and ROE.
The shares fell up to 2.3% to the day’s low of Rs 387.30. Here’s what brokerages say on Axis Bank: Jefferies We raise our earnings forecasts for FY24-25 by 2-3% and see 15% CAGR in earnings over FY23-26 (on normal base). Tier I CAR is at 14.6% and total CAR at 17.6%.
- Valuations are at 30% discount to ICICI Bank and can narrow given the reduction in gap on ROA and ROE.
- We raise our price target to Rs 1,150 (earlier Rs 1,100), including the value of the bank at 1.9x Mar-25E adjusted PB.
- Buy stays.
- Otak Institutional Equities We maintain BUY rating with FV of Rs 1,100 (unchanged), valuing the bank at ~2X book and ~13X March 2025e EPS for RoEs of ~16% in the medium term.
We believe Axis Bank is well-poised for a re-rating as most of the key headwinds are behind the bank. The focus is shifting back to core business performance hereon. We don’t see material risk to our earnings forecast, as we are conservative on some of the key variables such as NIM and loan growth.
Nuvama NII and core earnings are soft; we see pressure on NIM and opex from Citi integration; retain ‘BUY’ on cheap valuation. Our earnings cut yields a TP of Rs 1,100 at 1.9x BVFY25E (INR 1,150/2x). Motilal Oswal Asset quality continued to improve with moderation in slippages and healthy trends in recoveries and upgrades.
The restructured book was controlled, which coupled with a higher provisioning buffer, provides comfort on credit cost. We tweak our estimates slightly and expect AXSB to deliver an RoA/RoE of 1.9%/18.1% in FY25. Reiterate BUY with a TP of Rs 1,100 (premised on 1.8x Sep’24E BV).
- ICICI Securities We value the stock at ~1.8x FY25E ABV (2.1x FY24E ABV; in line with long-term average trading multiple) and assign Rs 74 per share for subsidiaries.
- Maintain BUY.
- Ey risks: Lower-than-expected growth and higher-than-expected opex leading to pressure on core operating earnings.
- Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of Economic Times) (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets, Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds,) Download The Economic Times News App to get Daily Market Updates & Live Business News.
What will Axis be worth in 2025?
AXIS Token (AXIS) Price Predictions 2023 – 2031
| Year | Minimum Price | Maximum Price |
|---|---|---|
| 2025 | $0.033033 | $0.039227 |
| 2026 | $0.043356 | $0.04955 |
| 2027 | $0.053679 | $0.059873 |
| 2028 | $0.064002 | $0.070196 |
What is next target in Axis Bank?
Stock price target for Axis Bank Limited AXISBANK are 932.3 on downside and 959.85 on upside. –
| Tomorrow Target 1 | 926.42 |
| Tomorrow Target 2 | 938.18 |
| Tomorrow Target 3 | 953.96666666667 |
| Tomorrow Target 4 | 965.73 |
| Tomorrow Target 5 | 981.52 |
What is the long term target for Axis Bank?
View 43 reports from 14 analysts offering long term price targets for Axis Bank Ltd Axis Bank Ltd. has an average target of 1109.92. The consensus estimate represents an upside of 13.63% from the last price of 976.80.
How stable is Axis Bank?
Strong capital position wit h demonstrated ability to raise capital
Capitalisation is strong, with sizeable networth of Rs 1,19,378 crore as on June 30, 2022 (Rs 1,03,890 crore as on June 30, 2021). Tier-I capital adequacy ratio (CAR) and overall CAR were comfortable at 15.79% and 17,83%, respectively, as on same date (16.48% and 19.01%, respectively, as on June 30, 2021).
- Capitalisation is also supported by the bank’s demonstrated ability to raise equity.
- Healthy networth also cushions credit growth and helps maintain adequate cover against net non-performing assets (NPAs).
- Net worth to net NPA ratio stood at 25 times as on June 30, 2022 and has improved from 9.1 times as on March 31, 2020.
Given the bank’s healthy cash accrual and demonstrated ability to raise capital, it is likely t o maintain healthy capitalisation to support overall credit risk profile of the bank and also adequately cover for asset-side risks, while pursuing credit growth over the medium term.
Healthy resource profile
The resource profile remains healthy, with sh are of stable low-cost current and savings account (CASA) deposits at 44% of total deposits as on June 30, 2022 (45% as on March 31, 2022, 45% as on March 31, 2021 and 41% as on March 31, 2020 ). Although there was a drop in the share of CASA deposits from March 31, 2018, the overall retail term deposits (retail term deposits/ total term deposits) remain stable at 64% (based on quarterly average balance) as on June 30, 2022.
Strong market position
Axis Bank is amongst the top three private sector banks, with a market share of around 5.7% and 4.7% in advances and deposits, respectively. Advanc es recorded a compound annual growth rate (CAGR) of ~10% over the five fiscals through 2022, mainly contributed by stronger growth in retail loans (~14% CAGR).
- Also, the loan portfolio is well balanced with retail loans constituting 59% of loans, followed by corporate (31%) and small and medium enterprise (SME; 10%) loans, as on June 30, 2022.
- Share of the retail portfolio has grown sharply to 59% as on June 30, 2022, from 27% as on March 31, 2013.
- Further, around 66% of the retail loans are now being sourc ed by existing customers; which should support healthy growth rates.
The bank has also retained its strong position in the debt syndication business, which continues to support expansion in fee income. With healthy capitalisation, well spread out branch n etwork, diverse product offerings, and a strong digital footprint, market share is expected to improve over the medium term.
Average asset quality
The bank’s overall asset quality remains average, although it is on improving trend over the las t few quarters and stood at 2.76% as on June 30, 2022. The improving trend is driven by controlled slippages coupled with higher upgradation and recoveries (Upgradations and recoveries of Rs 14,351 crore for fiscal 2022 as against Rs 8,258 crore for previ ous fiscal). However, over the near-to-medium term, the asset quality will remain a monitorable. Under the various schemes announced by the RBI dated January 1, 2019, February 11, 2020, August 6, 2020, and May 5, 2021, the bank had outstanding restructure d portfolio of 0.45% of gross advances as on June 30, 2022. Nevertheless, the ability of the bank to manage collections and asset quality going forward will be a key monitorable. Provision coverage ratio (excluding technical write-offs) stood at 77% as on June 30, 2022 (70% as on June 30, 2021). Ability to manage asset quality, in both the corporate and retail loan portfolios amidst the challenging macro environment will remain key a rating monitorables over the near-to-medium term.
The bank has in place the ESG policy for Lending that integrates environmental and social r isk assessment into corporate credit appraisal mechanism. The Policy applies to all new funding projects, subject to the specified threshold criteria. Further, the Bank channelizes its investments towards low carbon sectors such as renewable energy, mass t ransport, electric mobility and green infrastructure. In fiscal 2022, the bank has committed to incremental financing of Rs 30,000 crore towards green and social sectors till fiscal 2026. Having raised green bonds earlier, the bank has raised USD 600 milli on sustainable additional tier 1 bonds in the overseas markets in fiscal 2022.
Bank made commitment for planting 2 million trees by fiscal 2027 across India towards contributing to creating a carbon sink. It has set a target of carbon emissions reduction of at least 10% of its total emissions by 2024 and making its three large offices, in Mumbai and its disaster recovery center in Bengaluru, net zero carbon emissions by March 2022. Bank will further committed to make 5% of its Retail Two-Wheeler loan portf olio as electric by FY 2024
Bank has taken various initiatives to support gender diversity, such as a specific leadership focused programme for women restarting from a career break and diversity-focused hiring programmes. In fiscal 2022, it launched its ‘ Come As You Are’ Diversity Charter. As on March 31, 2022, 24.7% of the bank’s employee were women and the bank targets to take this to 30% by fiscal 2027.
Axis Bank Foundation (ABF), under its Sustainable Livelihoods programme, has impacted over 1 millio n households under its commitment. The bank has set a target of reaching 2 Million households by 2025 and will make incremental disbursements of Rs 10,000 crore by 2024.
Majority of the board members are independent directors, none of the independent dire ctors have tenure of more than 10 years and there is a segregation in chairperson and executive positions. The bank has a dedicated investor grievance redressal mechanism and the disclosures put out by it are extensive. The bank also has a standalone ESG C ommittee at the Board level.
There is growing importance of ESG among investors and lenders. Axis Bank’s commitment to ESG will play a key role in enhancing stakeholder confidence, given high share of foreign investors as well as access to both domestic and foreign capital markets.
H igher than expected deterioration in asset quality thereby impacting earnings profile Decline in capital adequacy ratios (including CCB) with CET I remaining below 11% on sustained basis
| As on/for three months ended June 30 | 2022 | 2021 | |
| Total assets | Rs crore | 11,52,580 | 10,12,050 |
| Total income* | Rs crore | 12,383 | 11,119 |
| PAT | Rs crore | 4,125 | 2,160 |
| Gross NPA (as a % of gross advances) | % | 2.76% | 3.85% |
| Overall capital adequacy ratio | % | 17.83% | 19.01% |
| Return on assets (annualised) | % | 1.4 % | 0.9% |
Key financial indicators (Consolidated)
| As on/for three months ended June 30 | 2022 | 2021 | |
| Total assets | Rs crore | 11,74,734 | 10,27,399 |
| Total income* | Rs crore | 13,122 | 11,688 |
| PAT | Rs crore | 4,381 | 2,357 |
| Return on assets (annualised) | % | 1.5% | 0.9% |
Total income = net interest income (NII) + other income
| ISIN | Name of Instrument | Date of Allotment | Coupon Rate (%) | Maturity Date | Issue Size (Rs. Cr) | Complexity | Rating Outstanding with Outlook |
| INE238A08468 | Infrastructure Bonds | 30-Jan-20 | 7.65% | 30-Jan-27 | 4175 | Simple | CRISIL AAA/Stable |
| INE238A08435 | Tier II Bonds Issue (Under Basel III) | 15-Jun-17 | 7.66% | 15-Jun-27 | 5000 | Complex | CRISIL AAA/Stable |
| INE238A08369 | Tier II Bonds Issue (Under Basel III) | 12-Feb-15 | 8.45% | 12-Feb-25 | 850 | Complex | CRISIL AAA/Stable |
| INE238A08377 | Tier II Bonds Issue (Under Basel III) | 30-Sep -15 | 8.50% | 30-Sep-25 | 1500 | Complex | CRISIL AAA/Stable |
| INE238A08393 | Tier II Bonds Issue (Under Basel III) | 27-May-16 | 8.50% | 27-May-26 | 2430 | Complex | CRISIL AAA/Stable |
| NA | Tier II Bonds Issue (Under Basel III)^ | NA | NA | NA | 4570 | Complex | CRISIL AAA/Stable |
| INE238A08351 | Infrastructure Bonds | 5-Dec-14 | 8.85% | 5-Dec-24 | 5705 | Simple | CRISIL AAA/Stable |
| INE238A08385 | Infrastructure Bonds Issue | 30-Oct-15 | 8.25% | 30-Oct-25 | 3000 | Simple | CRISIL AAA/Stable |
| INE238A08401 | Infrastructure Bonds Issue | 20-Oct-16 | 7.60% | 20-Oct-23 | 5000 | Simple | CRIS IL AAA/Stable |
| INE238A08450 | Infrastructure Bonds Issue | 28-Dec-18 | 8.60% | 28-Dec-28 | 3000 | Simple | CRISIL AAA/Stable |
| INE238A08476 | Infrastructure Bonds | 22-Dec-21 | 6.99% | 22-Dec-31 | 2600 | Simple | CRISIL AAA/Stable |
| NA | Bonds (Additional Tier I under BASEL III)^ | NA | NA | NA | 2500 | Highly complex | CRISIL AA+/Stable |
| NA | Bonds (Additional Tier I under BASEL III)^ | NA | NA | NA | 500 | Highly complex | CRISIL AA+/Stable |
| NA | Infrastructure Bonds issue^ | NA | NA | NA | 6225 | Simple | CRISIL AAA/Stable |
| NA | Certificate of Deposits | NA | NA | 7-365 days | 60000 | Simple | CRISIL A1+ |
Y et to be issued Annexure – Details of Rating Withdrawn
| ISIN | Name of the instrument | Date of issuance | Coupon rate (%) | Maturity Date | Size of the issue (in Cr) | Complexity |
| INE238A08443 | Bonds (Additional Tier I under BASEL III) | 28-Jun-17 | 8.75 | Perpetual | 3500 | Highly complex |
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| Names of Entities Consolidated | Extent of Consolidation | Rationale for Consolidation |
| Axis Capital Limited | Full | Subsidiary |
| Axis Asset Management Company Limited | Ful l | Subsidiary |
| Axis Finance Limited* | Full | Subsidiary |
| Axis Securities Limited | Full | Subsidiary |
| Axis Bank UK Limited | Full | Subsidiary |
| Freecharge Payment Technologies Private Limited | Full | Subsidiary |
| Axis Capital USA, LLC. | Full | Step down Subsidiary |
| A.TREDS L imited | Full | Subsidiary |
| Axis Trustee Services Limited | Full | Subsidiary |
| Axis Mutual Fund Trustee Limited | Full | Subsidiary |
| Axis Pension Fund Management Limited | Full | Step down Subsidiary |
After amalgamation of Axis Private Equity Limited as per NCLT order da ted July 24, 2020 with effect from April 1, 2017
| Annexure – Rating History for last 3 Years | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Note for Media: This rating rationale is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency. The rating rationale may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL Ratings. However, CRISIL Ratings alone has the sole right of distribution (whether directly or indirectly) of its rationales for consideration or otherwise through any media including websites and portals. |
About CRISIL Ratings Limited (A subsidiary of CRISIL Limited) CRISIL Ratings pioneered the concept of credit rating in India in 1987. With a tradition of independence, analytical rigour and innovation, we set the standards in the credit rating business.
We rate the entire range of debt instruments, such as bank loans, certificates of deposit, commercial paper, non-convertible/convertible/partially convertible bonds and debentures, perpetual bonds, bank hybrid capital instruments, asset-backed and mortgage-backed securities, partial guarantees and other structured debt instruments.
We have rated over 33,000 large and mid-scale corporates and financial institutions. We have also instituted several innovations in India in the rating business, including ratings for municipal bonds, partially guaranteed instruments and infrastructure investment trusts (InvITs).
CRISIL Ratings Limited (‘CRISIL Ratings’) is a wholly-owned subsidiary of CRISIL Limited (‘CRISIL’). CRISIL Ratings Limited is registered in India as a credit rating agency with the Securities and Exchange Board of India (“SEBI”). For more information, visit www.crisilratings.com About CRISIL Limited CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services.
We are India’s leading ratings agency. We are also the foremost provider of high-end research to the world’s largest banks and leading corporations. CRISIL is majority owned by S&P Global Inc, a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide.
Why is Axis Bank rising?
Axis Bank shares: Brokerages see up to 51% upside potential; here’s why Shares of Axis Bank have slipped 8.65 per cent so far this year. The private lender reported a loss of Rs 5,728 crore for the three months that ended March 31, 2023, compared to a profit of Rs 4,118 crore a year earlier.
- The huge loss came in on account of a one-time loss of Rs 12,500 crore in Q4 FY23 due to the acquisition of Citigroup Inc’s consumer and non-banking finance businesses.
- Despite the loss, the lender’s business growth remained robust.
- It posted a standalone operating profit, which excludes provisions and contingencies, of Rs 9,168 crore as against Rs 6,466 crore a year earlier.
Three brokerages gave a ‘Buy’ rating for the stock. YES Securities has recommended a target price of Rs 1,300 over a one-year period, suggesting an upside potential of 51.16 per cent. “Gross slippages amounted to Rs 3,375 crore (annualised slippage ratio of 1.80 per cent) and recoveries and upgrades were healthy at Rs 2,699 crore.
NIM (Net interest margin) at 4.22 per cent was down on a reported basis but was up 1 basis point on like-for-like basis,” the brokerage noted. “The lender’s advances, total opex and fee income recorded a growth. Management stated that Axis Bank can grow 400-600 basis points (bps) higher than the banking system.
The projection for credit growth (presumably for the system) is 12-13 per cent. Earlier, growth had slowed for the bank since it was not comfortable doing low-yielding corporate and mortgage lending at the time,” the brokerage said. Prabhudas Lilladher has upwardly revised its target price to Rs 1,140 from Rs 1,100 earlier.
“Axis Bank saw a mixed quarter; core PPoP (Pre-provision operating profit) at Rs 9,080 crore missed our estimates by 1.80 per cent due to lower NII (Net interest income), although core PAT (Profit after tax) beat estimates by 16 per cent as provisions dropped sharply quarter-on-quarter (QoQ) led by improving asset quality,” PL stated.
JM Financial Institutional Securities has given a 12-month target price of Rs 1,075 on the counter. “In our view, transformation is in the right direction with sustaining loan growth momentum, improvement in liabilities profile, robust asset quality resulting in low credit costs and steadily improving return profile.
- Delivery on the loan growth momentum and sustenance of NIMs will be critical factors that can drive the rerating for the stock.
- Current core valuations of 1.5x FY25E BVPS (Book Value Per Share) are inexpensive and we expect the discount to larger private sector peers to narrow as Axis Bank starts reporting strong operating performance on a more sustainable basis,” JM Financial stated.
Axis Bank settled 2.39 per cent lower at Rs 860 during the previous session on Friday. At Friday’s closing price, the scrip has fallen 11.38 per cent to hit its 52-week high of Rs 970.45, hit on January 4, 2023. That said, Axis Bank’s stock has gained 39.14 per cent from its one-year low of Rs 618.10, a level seen on June 23 last year.
- Meanwhile, Indian equity benchmarks were closed on Monday due to Maharashtra Day.
- In the previous session, the domestic benchmarks extended their gains for the seventh straight session.
- The 30-share benchmark Sensex pack surged 463 points, or 0.76 per cent, to settle at 61,112 on Friday, while the broader NSE Nifty index closed 150 points, or 0.84 per cent, up at 18,065.
The domestic indices would resume trading today. Published on: May 02, 2023, 7:55 AM IST Posted by: Tarab Zaidi, May 02, 2023, 7:53 AM IST : Axis Bank shares: Brokerages see up to 51% upside potential; here’s why
Will Axis Bank go up?
If you are looking for stocks with good return, Axis Bank Ltd can be a profitable investment option. Axis Bank Ltd quote is equal to 971.550 INR at 2023-07-25. Based on our forecasts, a long-term increase is expected, the ‘Axis Bank Ltd’ stock price prognosis for 2028-07-14 is 1407.336 INR.
Is Axis Bank good or SBI?
Conclusion – SBI home loan and Axis Bank home loan are excellent options for home loans in India. Both banks offer competitive interest rates, various loan options, and flexible repayment options. Both lenders offer a range of home loan products, flexible repayment tenures, balance transfer facilities and good customer service.
However, the best option for you will depend on your specific needs and requirements. SBI is a good choice for borrowers looking for a lower interest rate and a higher loan amount. On the other hand, Axis Bank is a private sector bank known for its personalized service and ability to customize loan products to meet the customer’s specific needs.
They also have a strong online presence and mobile application to make availing and repaying loans more convenient. : Compare SBI & Axis Bank Home Loans: Rates, Processing Fees & Schemes
Is Axis Bank a trusted Bank?
2015 –
- Axis Bank has been adjudged winner in the Best Bank Category, Outlook Money Awards 2015
- Axis Bank awarded for the Best Security among Private Sector Banks in India by Data Security Council of India (DSCI).
- Best Domestic Bank in India – Asiamoney Best Banks 2015
- Axis Bank has been featured in Limca Book of Records 2015 for creating a National Record for its campaign – ‘Plant a Sapling’
- No.1 Promising Banking Brand of 2015, Economic Times Awards 2015
Which Bank is best Axis or Yes?
Yes Bank or Axis Bank which is a better choice? Based on a total of 5338 reviews, Yes Bank has a rating of 3.9/5. Axis Bank has a rating of 3.9/5 based on a total of 18802 reviews. Now, let’s look at the other aspects of Yes Bank and Axis Bank.
Is Axis Bank a good stock to buy?
Shares of Axis Bank fell 2% after the lender reported a higher-than-expected loss in Q4 due to the acquisition of Citi’s India retail business. However, brokerages are optimistic about the bank’s performance in the future, with Kotak Institutional Equities maintaining a buy rating and Jefferies noting that valuations are at a 30% discount to ICICI Bank and could narrow given the reducing gap on return on assets and return on equity. Agencies NEW DELHI: After the private lender reported a higher-than-expected loss in Q4 due to the acquisition of Citi’s India retail business, Axis Bank shares slipped 2% on Friday but brokerages see scope for re-rating. The bank’s net interest income (NII) grew 33% year-on-year (YoY) aided by 73 bps rise in NIM (net interest margin).
- Otak Institutional Equities is factoring a lower NIM for FY2024.
- Asset quality metrics showed marginal improvement.
- We find the CET-1 ratio to be comfortable for near-term business requirements at 14% even though it is lower than its peers,” it said.
- Jefferies noted that Axis Bank valuations are at a 30% discount to ICICI Bank and can narrow given the reducing gap on ROA and ROE.
The shares fell up to 2.3% to the day’s low of Rs 387.30. Here’s what brokerages say on Axis Bank: Jefferies We raise our earnings forecasts for FY24-25 by 2-3% and see 15% CAGR in earnings over FY23-26 (on normal base). Tier I CAR is at 14.6% and total CAR at 17.6%.
- Valuations are at 30% discount to ICICI Bank and can narrow given the reduction in gap on ROA and ROE.
- We raise our price target to Rs 1,150 (earlier Rs 1,100), including the value of the bank at 1.9x Mar-25E adjusted PB.
- Buy stays.
- Otak Institutional Equities We maintain BUY rating with FV of Rs 1,100 (unchanged), valuing the bank at ~2X book and ~13X March 2025e EPS for RoEs of ~16% in the medium term.
We believe Axis Bank is well-poised for a re-rating as most of the key headwinds are behind the bank. The focus is shifting back to core business performance hereon. We don’t see material risk to our earnings forecast, as we are conservative on some of the key variables such as NIM and loan growth.
Nuvama NII and core earnings are soft; we see pressure on NIM and opex from Citi integration; retain ‘BUY’ on cheap valuation. Our earnings cut yields a TP of Rs 1,100 at 1.9x BVFY25E (INR 1,150/2x). Motilal Oswal Asset quality continued to improve with moderation in slippages and healthy trends in recoveries and upgrades.
The restructured book was controlled, which coupled with a higher provisioning buffer, provides comfort on credit cost. We tweak our estimates slightly and expect AXSB to deliver an RoA/RoE of 1.9%/18.1% in FY25. Reiterate BUY with a TP of Rs 1,100 (premised on 1.8x Sep’24E BV).
ICICI Securities We value the stock at ~1.8x FY25E ABV (2.1x FY24E ABV; in line with long-term average trading multiple) and assign Rs 74 per share for subsidiaries. Maintain BUY. Key risks: Lower-than-expected growth and higher-than-expected opex leading to pressure on core operating earnings. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of Economic Times) (What’s moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets, Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds,) Download The Economic Times News App to get Daily Market Updates & Live Business News.
What is the record date for Axis Bank dividend 2023?
Axis Bank dividend 2023 record date Axis Bank has announced a dividend of Re 1 per equity share with a face value of Rs 2. The stock traded ex-dividend on July 7. The record date is also July 7.
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| Year s | Minimum Target | Maximum Target |
|---|---|---|
| 2023 | ₹1,100 | ₹1,300 |
| 2024 | ₹1,300 | ₹1,500 |
| 2025 | ₹1,500 | ₹1,800 |
| 2026 | ₹1,800 | ₹2,200 |
| 2027 | ₹2,200 | ₹2,600 |
| 2030 | ₹3,000 | ₹3,500 |
| 2040 | ₹5,000 | ₹6,000 |
| 2050 | ₹8,000 | ₹10,000 |
Based on our analysis, the maximum share price target for Axis Bank in 2023 could be ₹1,300. Based on our analysis, the maximum share price target for Axis Bank in 2025 could be ₹1,800. Based on our analysis, the maximum share price target for Axis Bank in 2030 could be ₹3,500.
I would like to remind you that I am not authorized by SEBI to provide any financial advice or recommendations. As you know, Share price prediction is not an exact science, That’s why I am conducting in-depth research and using different AI tools to predict share prices.
Is Axis Bank over valued?
Axis Bank Price Chart – P/E Ratio ( SA) : 26.27 Market Cap : 2,95,616.4 Cr.52-wk low : 706 52-wk high : 989.9 Bole Toh? 1. Is Axis Bank Ltd a good quality company? Past 10 year’s financial track record analysis by Moneyworks4me indicates that Axis Bank Ltd is a good quality company,2.
- Is Axis Bank Ltd undervalued or overvalued? The key valuation ratios of Axis Bank Ltd’s currently when compared to its past seem to suggest it is in the Fair zone,3.
- Is Axis Bank Ltd a good buy now? The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Axis Bank Ltd is likely to Rise-somewhat in the short term.
However, please check the rating on Quality and Valuation before investing.
Axis Bank share price slips over 2% after Q4 loss; is it a buy or sell? Here’s what top brokerages say Axis Bank shares slipped over 2 per cent in morning trade on Friday, a day after the private sector lender reported a loss of ₹ 5,728.42 crore for the March quarter of the financial year 2022-23 (Q4FY23).
What is the growth of Axis Bank in last 5 years?
13,17,326 crores as on 31st March 2023, Axis Bank has achieved consistent growth and with a 5-year CAGR (2017-18 to 2022-23) of 14% each in Total Assets & Advances and 16% in Deposits.
What is the prediction of Axis Bank?
Stock price target for Axis Bank Limited AXISBANK are 932.3 on downside and 959.85 on upside. –
| Tomorrow Target 1 | 926.42 |
| Tomorrow Target 2 | 938.18 |
| Tomorrow Target 3 | 953.96666666667 |
| Tomorrow Target 4 | 965.73 |
| Tomorrow Target 5 | 981.52 |
What is the future prediction of Axis Bank?
If you are looking for stocks with good return, Axis Bank Ltd can be a profitable investment option. Axis Bank Ltd quote is equal to 971.550 INR at 2023-07-25. Based on our forecasts, a long-term increase is expected, the ‘Axis Bank Ltd’ stock price prognosis for 2028-07-14 is 1407.336 INR.
What is the future of digital banking 2023?
Personalized Banking – As customers demand more personalized services, personalized banking is set to become the norm in the banking industry. Banks will analyze customer data using AI and machine learning algorithms, allowing them to provide personalized services based on individual preferences and behaviors.
What is the long term target for Axis Bank?
View 43 reports from 14 analysts offering long term price targets for Axis Bank Ltd Axis Bank Ltd. has an average target of 1109.92. The consensus estimate represents an upside of 13.63% from the last price of 976.80.
