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Weekly tactical pick – Axis Bank

If Bank Nifty covers its underperformance, can Axis Bank be far behind?

August 28, 2020 / 10:47 AM IST
Weekly tactical pick – Axis Bank

Axis Bank (Representative image)

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

This week’s tactical pick is Axis Bank (CMP: Rs 473, Market Cap: Rs 1,44,757 crore). Is it a good idea to consider a financial stock when banks are going to bear the brunt of the economic slowdown wrought by Covid-19? Of course, the pandemic will render the financial system weaker but it will also widen the gap between healthy and weak Indian banks. The healthy ones would comprise select well-run and well-capitalised banks predominantly from the private sector that are likely...

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