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    Buy Axis Bank, target price Rs 1125: Anand Rathi

    Synopsis

    Axis Bank, incorporated in the year 1993, is a banking company (having a market cap of Rs 286518.55 Crore).

    Axis Bank
    Promoters held 9.7 per cent stake in the company as of 30-Jun-2022, while FIIs owned 51.35 per cent, DIIs 26.7 per cent.
    Anand Rathi has buy call on Axis Bank with a target price of Rs 1125. The current market price of Axis Bank is Rs 933.8.

    Axis Bank, incorporated in the year 1993, is a banking company (having a market cap of Rs 286518.55 Crore).

    Axis Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 25258.80 Crore, up 11.34 % from last quarter Total Income of Rs 22686.46 Crore and up 20.47 % from last year same quarter Total Income of Rs 20966.61 Crore. The bank has reported net profit after tax of Rs 5612.33 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. Anand Rathi continues to remain positive on the bank and maintain its buy rating on the stock with a target price of Rs 1,125 per share.

    Promoter/FII Holdings
    Promoters held 9.7 per cent stake in the company as of 30-Jun-2022, while FIIs owned 51.35 per cent, DIIs 26.7 per cent.



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    (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.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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