22 Nov , 2021 By : monika singh
Anand Rathi has buy call on Axis Bank with a target price of Rs 860. The current market price of Axis Bank Ltd. is Rs 694.4.
Time period given by analyst is one year when Axis Bank Ltd. price can reach defined target.
Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 213484.52 Crore).
Axis Bank Ltd. 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-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 20966.61 Crore, up 3.36 % from last quarter Total Income of Rs 20285.41 Crore and up 2.54 % from last year same quarter Total Income of Rs 20446.79 Crore. The bank reported net profit after tax of Rs 3387.70 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. It continues to remain positive on the company and maintain BUY rating on the stock with a target price of Rs 860 per share.
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