Axis Bank reported decent results amid partial lockdowns.
- Sequential loan and deposit growth flattish. Retail loan up 14% YoY
- NII up 11% YoY, NIMs down 10 bps QoQ to 3.46%
- GNPA up 15 bps QoQ to 3.85%, restructured book at 0.33%
Key triggers for future price performance
- Containing deterioration in asset quality is a positive
- Selective lending with healthy capitalisation (CRAR at 19.01%, Tier-1 at 16.48%) to aid business growth
- Healthy cumulative provisions of 118% of GNPA provide comfort
- Improving trajectory of return ratios to support valuations. Expect RoA and RoE to reach 1.6% and 14.5% by FY23E, respectively
For details, click on the link below: Link to the Report
Shares of AXIS BANK LTD. was last trading in BSE at Rs. 722.7 as compared to the previous close of Rs. 731.75. The total number of shares traded during the day was 331232 in over 9761 trades.
The stock hit an intraday high of Rs. 738.8 and intraday low of 712.4. The net turnover during the day was Rs. 238651471.