Buy Axis Bank, target price Rs 735: Shubham Aggarwal
Shubham Aggarwal recommended to keep a stop loss at Rs 698.
Axis Bank, incorporated in the year 1993, is a banking company (having a market cap of Rs 2,00,316.67 crore).
Axis Bank key products/revenue segments include interest & discount on advances & bills which contributed Rs 41,322.02 crore to sales value (75.15 per cent of total sales), income from investment which contributed Rs 11,349.07 crore to sales value (20.64 per cent of total sales), interest which contributed Rs 1,621.33 crore to sales value (2.94 per cent of total sales) and interest on balances with RBI and other inter-bank funds which contributed Rs 693.35 crore to sales value (1.26 per cent of total sales)for the year ending 31-mar-2019.
The bank has reported no gross non-performing assets (gross NPAs) and net non-performing assets (net NPAs). For the quarter ended 30-06-2019, the company has reported a consolidated interest income of Rs 11,727.25 crore, up 2.86 per cent from last quarter interest income of Rs 11,401.16 crore and up 19.37 per cent from last year same quarter interest income of Rs 9,824.55 crore. The bank has reported a net profit after tax of Rs 1,262.98 crore in latest quarter.