Axis Bank’s interest income grew 14 percent in the third quarter, but there has been more than 36 percent pressure on profits.
Axis Bank Bank’s earnings grew 14 percent in the third quarter. Axis Bank’s profitability came under pressure due to a new NPA of Rs 6700 crore in the third quarter. The bank did not take advantage of the concession of the Supreme Court.
Axis Bank’s interest income grew 14 percent in the third quarter, but there was more than 36 percent pressure on profits. Provisning also showed an increase. However the bank has announced slippages of 6736 crores.
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BROKERAGES ON AXIS BANK
CLSA’s opinion on AXIS BANK
CLSA gave a buy rating on AXIS BANK and set the target at Rs 1000.
Opinions on AXIS BANK of JEFFERIES
JEFFERIES has a buy rating on AXIS BANK and set the target at Rs 840.
Opinions on CITI AXIS BANK
CITI has given a buy rating on AXIS BANK and fixed the target at Rs 800.
Opinions on AXIS BANK by MACQUARIE
MACQUARIE has given an outperform rating on AXIS BANK and set the target at Rs 780.
JP MORGAN’s opinion on AXIS BANK
JP MORGAN has given overweight rating on AXIS BANK and fixed the target at Rs 710. They say that the results have surprised in terms of asset quality. At the same time, the situation of the bank has been better in times of difficulties. They have projected credit costs to stabilize by FY 2022 and raise the estimate to 5-12 per cent for FY 2022-23. For them, this is the top pick of this sector.
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