The index remained below the 50-day exponential moving average on the daily timeframe, confirming the bearish trend.
Emkay Global Financial is bullish on AXIS Bank has recommended buy rating on the stock with a target price of Rs 1300 in its research report dated January 23, 2023.
Sharekhan is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 1140 in its research report dated January 23, 2023.
Bulls eye crucial 50 DMA resistance on Nifty as the mood turns positive in global markets. Earnings continue to be a mixed bag. Moneycontrol's Santosh Nair decodes the cues impacting the India market. Stocks in focus include Axis Bank, Indian Energy Exchange and Concor.
Axis Bank Q3: Net interest income rose 32 percent year-on-year to Rs 11,459 crore on the back of a strong 15 percent loan growth and an expansion in net interest margins.
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The bank may look at large corporates as well because pricing has turned better now.
The bank’s standalone profit after tax rose 62 percent year-on-year to Rs 5,853 crore for the quarter ending December.
Axis Bank's net interest income rose 32 percent year-on-year to Rs 11,459 crore on the back of a strong 15 percent loan growth and an expansion in net interest margins.
On deposits, the bank is expected to report a modest growth of 10-11 percent, in line with larger peer banks such as HDFC Bank and ICICI Bank that have reported earnings so far
Net Interest Income (NII) is expected to increase by 30.8 percent Y-o-Y (up 9.3 percent Q-o-Q) to Rs. 11,320.2 crore, according to Prabhudas Lilladher.
Lenders are tying up with global companies, fintechs and other organisations to provide additional and advanced services to their customers.
While Axis Bank's market share marginally declined in 2022 from 19.37 per cent in 2021, it increased from Rs 80,798 crore in 2021 in value terms.
Davos 2023: Chaudhry's comments are significant in the wake of huge corporate loan write-offs by Indian banks in the last five years.
Net Interest Income (NII) is expected to increase by 24.8 percent Y-o-Y (up 4.2 percent Q-o-Q) to Rs. 10,796 crore, according to Emkay.
The deal on fair value would imply transaction value of Rs 1,100-2,100 crore and Axis Bank will have to pay off extra of Rs 700-1,700 crore, said foreign brokerage firm Jefferies
The bank said it will acquire the remaining stake of Max Life using discounted cash flow
There are enough levers for bank credit growth to remain robust, but companies may take a relook at corporate bonds for fund-raising as bank loans begin to look expensive with rates hikes, says the group head of treasury and markets
Bajaj Finserv, SBI and Bajaj Auto will see highest outflows of $34 million, $32 million and $19 million due to the rejig in weightage, according to Nuvama Alternative & Quantitative Research
Motilal Oswal is bullish on Axis Bank recommended buy rating on the stock with a target price of Rs 1130 in its research report dated December 27, 2022.
Sharekhan is bullish on Axis Bank has recommended buy rating on the stock with a target price of Rs 1140 in its research report dated December 16, 2022.
The banking index has been showing outperformance and is continuing its uptrend after some consolidation. Among private sector banks, Axis Bank is showing strength and has given a breakout above its previous swing high resistance.
The bank shall utilize 100% of the proceeds of the Issue for its regular business activities and to meet the demand for financing.
Bharat Forge was in focus, rising 4 percent to Rs 871.35 and from long bullish candle on the daily charts with above average volumes. The stock has seen a breakout of downward sloping resistance trend line adjoining multiple points - November 11, December 1, and December 5 this year.