Axis Bank Q3 result review: Axis Bank's is moving in the right direction with improvement in net interest margins, sustaining loan growth momentum, and expansion in return profile, analysts said
Suuti's exit removes overhang on stock, say experts
Shares of Axis Bank rallied over 9 per cent on Friday after the firm reported a 66.29 per cent jump in consolidated net profit for the September quarter. The stock jumped 8.96 per cent to settle at Rs 900.25 apiece on the BSE. During the day, it advanced 9.53 to its 52-week high of Rs 905. On the NSE, it rallied 9.46 per cent to end at Rs 904 apiece. Its market capitalisation (mcap) also jumped Rs 22,757.86 crore to Rs 2,76,592.86 crore. The stock emerged as the biggest gainer on both Sensex and Nifty. In volume terms, 19.64 lakh shares of the firm were traded on the BSE and 5.80 crore shares on the NSE during the day. The 30-share BSE benchmark climbed 104.25 points or 0.18 per cent to settle at 59,307.15. On Thursday, Axis Bank reported a 66.29 per cent jump in consolidated net profit for September quarter at Rs 5,625.25 crore, driven by a substantial decrease in bad loan provisions and margin expansion. On a standalone basis, the third largest private sector lender reported
According to analysts, Axis' earnings beat was led by NIM expansion, and credit cost being restricted at less than 20 bps
Shares of Axis Bank tumbled over 5 per cent in early trade on Friday a day after the company reported a 49.77 per cent jump in its consolidated net profit for the March quarter.
The lender may see single-digit loan growth, deterioration in asset quality, and slippages at 4.5 per cent of loan book
Limited Covid-19 provisioning in the quarter may shore up profit of Axis Bank, analysts at Edelweiss Securities said in their result preview report
Axis Bank Ltd. will increase staff salaries between 4% and 12% from Oct. 1 based on performance, according to people with knowledge of the plans
UBS Principal Capital Asia Ltd on Monday offloaded shares of Axis Bank worth over Rs 150 crore through open market transactions.
Nifty outlook and top trading ideas by Vinay Rajani - Senior Technical & Derivatives analyst, HDFC Securities.
The bank recently hosted an analyst day where the management reiterated its objective of delivering an 18 per cent return on equity (RoE).
Brokerages cut price target and earnings forecast
The company's market valuation also dropped by Rs 11,709.33 crore to Rs 1,11,338.67 crore