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Axis Bank Q3: Firing on all cylinders; add during market weakness

Even without factoring in the value of the subsidiaries, the stock of Axis Bank trades at a discount to its larger private sector peers. The weakness in the market presents an opportunity to gradually build up position in the stock

January 25, 2022 / 11:36 PM IST
Axis Bank Q3: Firing on all cylinders; add during market weakness

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 705; Market Cap: Rs 216,153 crore) Q3FY22 earnings report was one of all-round strength – growth, margin gains, promising improvement in asset quality and a strong balance sheet that will incrementally warrant much lower provision to negotiate normal economic challenges. While the surge in operating expenses does raise eyebrows, a large part of the incremental spend is to acquire the right technological capability and to equip the bank in the changing banking landscape. The stock has been...

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