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Axis Bank: Relatively better placed to face the COVID second wave?

With superior quality of earnings, once growth resumes, it is only a matter of time before the valuation multiple of Axis Bank rerates

April 28, 2021 / 12:57 PM IST
Axis Bank: Relatively better placed to face the COVID second wave?

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Axis Bank’s (CMP: Rs 632, Market cap: Rs 214,327 crore) Q4FY21 earnings report was one of prudence with a continued focus on creating a high quality balance sheet thanks to adequate provision, completion of recognition of Covid I stress, readiness to grow with granular assets, liabilities & adequate capital and better preparedness to face the near-term challenges from the second wave of the pandemic. In the past three months, despite the market volatility, the stock had outperformed both the benchmark...

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