Shares of Axis Bank Ltd. rose as much as 3.79%, the biggest intraday gain in six weeks, after analysts reiterated ‘buy’ on the lender after its December quarter earnings.
- Net profit jumped more than threefold over the year earlier while NII rose 17% YoY
- Analysts cite pick-up in loan growth, improvement in asset quality as positives and flag elevated cost ratio as an area of concern.
- Of the 53 analysts tracking the lender, 48 suggest a ‘buy’ and five recommend a ‘hold’, according to Bloomberg data. The 12-month consensus price target implies an upside of 33.2%.
Source: Exchange Filing, Bloomberg