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Buy Axis Bank, target Rs 766: Kunal Bothra

Buy Axis Bank Ltd. at a price target of Rs 766.0 and a stoploss at Rs 716 from entry point.

Updated: Nov 13, 2019, 08.54 AM IST
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Independent analyst Kunal Bothra has a buy call on Axis Bank Ltd. with a target price of Rs 766. The current market price of Axis Bank Ltd. is Rs 733.6. Time period given by the analyst is Intra Day when Axis Bank Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 716. Axis Bank Ltd., incorporated in 1993, has a market cap of Rs 206824.87 crore.

Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 41322.02 Crore to Sales Value (75.15 % of Total Sales), Income From Investment which contributed Rs 11349.07 Crore to Sales Value (20.64 % of Total Sales), Interest which contributed Rs 1621.33 Crore to Sales Value (2.94 % 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 % of Total Sales)for the year ending 31-Mar-2019.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 30-09-2019, the company has reported a Consolidated Interest Income of Rs 12183.88 Crore, up 3.89 % from last quarter Interest Income of Rs 11727.25 Crore and up 19.49 % from last year same quarter Interest Income of Rs 10196.30 Crore. The bank has reported net profit after tax of Rs -18.14 Crore in latest quarter.

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