{"id":14350,"date":"2018-10-10T16:32:39","date_gmt":"2018-10-10T11:02:39","guid":{"rendered":"https:\/\/www.fundsindia.com\/blog\/?p=14350"},"modified":"2018-10-10T16:32:39","modified_gmt":"2018-10-10T11:02:39","slug":"axis-bank-ltd-2","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/axis-bank-ltd-2\/14350","title":{"rendered":"Axis Bank Ltd."},"content":{"rendered":"<p><strong>On a cusp of turnaround\u2026<\/strong> Axis Bank is the third largest private sector bank in India. The Bank has a large footprint of 3,779 domestic branches (including extension counters) and 12,834 ATMs spread across the country.<\/p>\n<p><strong>Valuation:<\/strong> We believe that the bank is approaching the end of recognition of stressed loan cycle. With an improving outlook on fresh slippages and credit cost, we expect the bank to clock RoA of 1.2% and RoE of 14% by FY20E. Further, Axis Bank has fundamental strengths such as high CASA ratio, distribution network and high and growing share of retail loans. Thus, we maintain \u2018BUY\u2019 rating on the stock with a revised upward target price (TP) of Rs 637. (P\/ABV of 2.4x for FY20E). Key thing to watch out will be an appointment outside Axis Bank as MD &amp; CEO which can lead to some disruption\/slowdown before stability.<\/p>\n<p><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/10\/Research-Report-Axis-Bank-Ltd.pdf\">Research-Report &#8211; Axis Bank Ltd<\/a><\/p>\n<p><em>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.\u00a0<\/em><a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\"><em>Click here<\/em><\/a><em>\u00a0to read our full disclaimer.<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On a cusp of turnaround\u2026 Axis Bank is the third largest private sector bank in India. The Bank has a large footprint of 3,779 domestic branches (including extension counters) and 12,834 ATMs spread across the country. Valuation: We believe that the bank is approaching the end of recognition of stressed loan cycle. With an improving [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[576],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Axis Bank Ltd.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundsindia.com\/blog\/equities\/axis-bank-ltd-2\/14350\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Axis Bank Ltd.\" \/>\n<meta property=\"og:description\" content=\"On a cusp of turnaround\u2026 Axis Bank is the third largest private sector bank in India. 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