Axis Bank on Thursday struck a deal to buy 100 percent stake in digital mobile payment platform for Rs 385 crore in an all-cash deal
KRChoksey' is bullish on Axis Bank Ltd has recommended hold rating on the stock with a target price of Rs 552 in its research report dated July 26, 2017.
"Generally what we want to do is to maintain such companies as an independent unit which can keep their own culture," Jairam Sridharan, chief financial officer of Axis Bank told Moneycontrol (on-left in pic).
Earlier this week, a news report suggested that Tata Sons’ Chairman N Chandrasekaran has sounded out Sharma to hire her as head of Tata’s financial services vertical. The bank had strongly denied the reports
ICICI Direct has recommended buy rating on Axis Bank with a target price of Rs 585 in its research report dated July 26, 2017.
The Axis-Freecharge deal size at USD 60 million is significantly lower than the USD 400 million Snapdeal had paid to acquire the payments firm in 2015.
Edelweiss' is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 638 in its research report dated July 25, 2017
Expected to be signed on Thursday, the deal will give some breather to Gurgaon-based Snapdeal which is running low on cash. The deal will also change contours of Snapdeal's sale talks with Flipkart.
The deal is almost through and an announcement is likely to be made in the next few days, two people familiar with the development said.
This will increase more capital outgo for banks impacting their profitability in the upcoming three quarters ahead. RBI has also asked to make additional provisions towards accounts referred to insolvency courts
If Axis is able to consolidate in FY18 with its calibrated steps, FY19 should be a much better year with lower provision and higher growth. The bank might consider a round of capital raising at that stage.
Axis Bank’s Q1 earnings largely met street expectations and asset quality remained largely stable. The big worry is the slippages from non-watchlist accounts. In an interview to CNBC-TV18, V Srinivasan, Deputy MD of Axis Bank spoke about the results and his outlook for the company.
Ashwani Gujral of ashwanigujral.com recommends buying Shree Renuka Sugar, Ramco System, KRBL, Hindalco Industries and Blue Star.
The country’s third-largest private sector lender’s profit contracted 16 percent year-on-year to Rs 1,306 crore for the quarter ended June 2017.
Asian Paints, Axis Bank and Vedanta, among others, are on the radar of analysts on Wednesday.
HDFC | Yes Bank | Bharti Airtel | Axis Bank | National Fertilizers | Berger Paints | Suzlon Energy | Gail | Monnet Ispat | Cipla | Archid Ply | TD Power and Punjab National Bank are stocks, which are in news today.
Prakash Gaba of prakashgaba.com is of the view that trend is still up and the logical technical target still is valid as long as 9920 holds. The crucial support for the Nifty is at 9920 and the resistance is at 10036. Bank Nifty has support at 24400 and resistance at 24750.
In Q1FY18, Axis Bank’s net profit dipped for the sixth straight quarter by 16 percent to Rs 1,306 crore
Axis Bank has denied reports of its CEO and Managing Director Shikha Sharma looking to join Tata Group to lead its financial services vertical.
Sudip Bandhopadhyay, Market Expert recommends buying Axis Bank and ICICI Bank and has a bullish stance on Tata Motors.
Asset quality was stable during the quarter as gross NPA declined to 5.03 percent from 5.04 percent, though net NPA increased to 2.3 percent from 2.11 percent.
Rajat Bose of rajatkbose.com suggests buying Balkrishna Industries and Axis Bank.
Ashwani Gujral of ashwanigujral.com recommends buying M&M Financial Services, Balrampur Chini, NBCC and Axis Bank.
Key things to watch out for would be asset quality movement. At the end of March 2017, total amount of loans under watchlist was Rs 11,232 crore (which accounts for 3 percent of total loan book).
Ashwani Gujral of ashwanigujral.com is of the view that one may buy Axis Bank, NMDC and Deepak Fertiliser and can sell Bank of India and VA Tech Wabag.