Moneycontrol PRO
Upcoming Event:Super25 3.0- India’s Largest Online Stock Traders Conference brought to you by Moneycontrol Pro & Espresso

Buy Axis Bank; target of Rs 975: Prabhudas Lilladher

Prabhudas Lilladher is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 975 in its research report dated March 31, 2022.

March 31, 2022 / 01:28 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

  • bselive
  • nselive
Todays L/H

Prabhudas Lilladher's research report on Axis Bank

The much awaited Axis-Citi deal was announced yesterday, wherein Axis will acquire Citibank’s self-funded consumer businesses for Rs123bn. Deposits/assets to be purchased will be Rs502bn/274bn with credit card portfolio of Rs89bn. Rationale for the deal is (i) building a premium base of customers and increasing granularity (ii) Citi’s portfolio complementing that of Axis, as both entities have different customer profile and (iii) good cross sell opportunities for Axis which would eventually lead to synergies. In our view, the deal is positive for Axis Bank in medium term, however the key is customer retention. With systemic asset quality risk receding and credit growth prospects improving, Axis could be one of the main beneficiaries.


We raise the multiple/TP to 2.3x/Rs975 as we roll forward to FY24E ABV. Upgrade to ‘BUY’ from Accumulate.


More Info

At 13:26 hrs Axis Bank was quoting at Rs 757.75, up Rs 7.55, or 1.01 percent.

It has touched an intraday high of Rs 763.90 and an intraday low of Rs 751.40.

It was trading with volumes of 339,924 shares, compared to its thirty day average of 330,327 shares, an increase of 2.91 percent.

In the previous trading session, the share closed up 1.72 percent or Rs 12.65 at Rs 750.20.

The share touched its 52-week high Rs 866.60 and 52-week low Rs 626.40 on 25 October, 2021 and 12 April, 2021, respectively.

Currently, it is trading 12.56 percent below its 52-week high and 20.97 percent above its 52-week low.

Market capitalisation stands at Rs 232,610.14 crore.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Broker Research
first published: Mar 31, 2022 01:28 pm
ISO 27001 - BSI Assurance Mark