Vishal Malkan, CMT at www.malkansview.com told CNBC-TV18, "I would recommend to hold Axis Bank. The damage has been done and a strong support at Rs 770-780 is there which is bouncing from that levels. I think a temporary bottom has been made in banking as a whole and all the stocks. So Axis Bank would be a good bet for short-term and one should hold now with a stop loss of Rs 770.”
The share touched its 52-week high Rs 1,549 and 52-week low Rs 785.60 on 20 May, 2013 and 28 August, 2013, respectively.
The stock's price-to-earnings (P/E) ratio was 10.33. The latest book value of the company is Rs 705.91 per share. At current value, the price-to-book value of the company was 1.21. The dividend yield of the company was 2.11 percent.
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