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What should investors do with Axis Bank post Q3 result: buy, sell or hold?

Provisions and contingencies increased considerably to Rs 4,604.28 crore in Q3FY21, rising 32.7 percent compared to the corresponding period and half a percent over the previous quarter.

January 28, 2021 / 09:35 AM IST
 
 
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Axis Bank share price fell over 2 percent in the early trade on January 28 after the private lender reported a 36.4 percent year-on-year (YoY) decline in standalone profit for the quarter ended December 2020, with elevated provisions (up 33 percent YoY). The profit for the quarter stood at Rs 1,116.6 crore against Rs 1,757 crore in the corresponding period last year.

Provisions and contingencies increased considerably to Rs 4,604.28 crore in Q3FY21, rising 32.7 percent compared to corresponding period and half a percent over previous quarter.

Also Read - Axis Bank Q3 profit plunges 36% to Rs 1,116.6 crore on elevated provisions, NII grows 14.3%

Here what is brokerages have to say about the stock and the company after the Q3 numbers: