Re-rating of Axis Bank s stock may continue in the near-future, believe analysts, as the risk-reward on the stock remains favourable amid healthy financials.
The bullish stance comes after the Mumbai-based lender delivered a strong outperformance in the March quarter of fiscal year 2023-24 (Q4FY24) on core pre-provision profit and net profit, with improving asset quality.
Axis Bank s net interest margin (NIM) expanded, against expectations, even in a tough market.
SBI cards on delinquency trends in card payments in Q4FY2023-24 medianama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medianama.com Daily Mail and Mail on Sunday newspapers.
India Business News: Shares of Indian lenders, including SBI Cards & Payment Services and Bajaj Finance, dropped by at least 3% each after the Reserve Bank of India (RBI)
Though crude prices eased a bit on Monday, Brent and WTI contracts still remain elevated above $90 per barrel. On the other hand, US 10-year yield hovers near the 5 percent mark, making the case for equities weaker
While the stock has been a consistent compounder in the past two decades, the overhang of Uday Kotak s exit has been weighing for two years. The stock has been trading the Rs 1,700-Rs 2,100 range since the beginning of 2021