Transition phase continues
Axis Bank is the third largest private sector bank in India. The Bank has a large footprint of 3,385 domestic branches (including extension counters) and 14,311 ATMs spread across the country.
Valuation: Axis Bank reported an in-line operating as well as business performance during Q1FY18 while continuing to focus on consolidation of balance sheet. Though asset quality overhang still persists, we expect the bank to complete the clean-up of its balance sheet by FY19E. Further, the bank continues to deliver superior performance across its retail franchise while the corporate segment remains the pain point across parameters. Thus, we maintain BUY rating on the stock with a revised target price (TP) of Rs. 543 (P/ABV of 2.2x for FY19E).
Research report Axis Bank Ltd. (1)
Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks. Click here to read our full disclaimer.
Wealth Conversations – April 2024- Temporary suspension of subscriptions in ” Mirae Asset Global Electric & Autonomous Vehicles ETFs Fund of Fund & Mirae Asset Global X Artificial Intelligence & Technology ETF Fund of Fund
- Merger Announcement: Aditya Birla Sun Life CRISIL IBX AAA Mar 2024 Index Fund
Here is everything that you need to know about Arbitrage Funds- Temporary suspension of subscriptions in “DSP US Treasury Fund of Fund”
