BNP Paribas Securities has issued a “buy” recommendation on Axis Bank with a target price of Rs 1290. As of now, the current market price of Axis Bank Ltd. stands at Rs 1012. Axis Bank Ltd., established in 1993, is a significant banking company with a market capitalization of Rs 320,616.22 Crore.
Axis Bank Ltd.’s primary revenue segments encompass Interest & Discount on Advances & Bills, Income From Investment, Interest, and Interest On Balances with RBI, along with Other Inter-Bank Funds. For the quarter ending on June 30, 2023, the bank reported a consolidated total income of Rs 31,894.20 Crore. This figure reflects a 5.87% increase compared to the previous quarter and a substantial 40.59% growth compared to the same quarter in the previous year. In the latest quarter, the bank reported a net profit after tax of Rs 6,091.35 Crore.
As of June 30, 2023, the promoters of Axis Bank Ltd. held an 8.19% stake in the company, while foreign institutional investors (FIIs) owned 52.0%, and domestic institutional investors (DIIs) held 29.79%.
Investors interested in Axis Bank Ltd. may find valuable insights in BNP Paribas Securities’ “buy” recommendation, which comes with a target price of Rs 1290. This recommendation could prove beneficial for individuals making investment decisions related to Axis Bank.
