According to the technical analyst from Anand Rathi, one can accumulate Axis Bank in the range of Rs 663 - 657 with a stop at Rs 630.
Axis Bank Q4 result review: Analysts do not expect valuation to catch up with peers in light of the NII undershoot, impending dilution to fund the Citi deal, and higher operating expenditure guidance.
Provisioning dropped to Rs 987 cr, down from Rs 2,167 cr during the same period of the previous year
Lender's board recommends dividend of Rs 1 per equity share for the year ended 31 March, 2022.
Axis Bank Q4 preview: Axis Bank may report around 50 per cent year-on-year (YoY) growth in net profit
Reports suggest LTI & Mindtree could be eyeing a merger. Besides, the acquisition race for Holcim's India assets is heating up Ultratech Cement reportedly throwing in its hat in the ring
HDFC twins, HDFC in particular, may see some more downward pressure; whereas PSU banks like SBI, Canara Bank and BoB can rally up to 9 per cent.
The lenders want recognition as firm's financial creditors, and inclusion in CoC as part of RCap's corporate insolvency resolution proceedings. Administrator has admitted claims worth Rs 23,666 cr
Q4 preview: Analysts believe earnings momentum is likely to gather pace, with healthy loan growth, stable margins, and improving asset quality trends
The affluent credit card segment was seen as a gap in Axis Bank's customer positioning and will fit in the lender's retail portfolio.
The current momentum, which is showing stability above 200-DMA could see a gradual rally towards Rs 800 to Rs 815 levels, its next hurdle zone.
The private lender has acquired Citigroups' Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans in an all cash deal worth Rs 12,325 crore.
Cheaper-than-expected valuation for the above-average customer franchise is positive; extracting synergies, smooth integration among key challenges
Business Standard brings you the top headlines on Thursday
Foreign portfolio investors exited India in droves and have sold stocks since October 2021 amid fears of an earlier and faster-than-expected rate hike by the US Federal Reserve (US Fed)
Banking shares have bounced back strongly in trades on Thursday amid hopes of a peace deal between Russia and Ukraine on planned diplomatic talks.
The stock of Axis Bank underwent some profit booking and almost retested that breakout zone
The Indian lender emerged as the buyer after beating out rivals, with factors such as job security for current Citigroup employees and competition.
The Federal Bank stock is attempting a breakout on the upside by crossing Rs 103 level, the Relative Strength Index (RSI) has formed a positive crossover indicating a bullish strength.
BHEL, Birlasoft, Canara Bank, Fino Payments Banks, LIC Housing Finance, MayMyIndia, McDowell Holdings, PNB, RBL Bank and Wockhardt to announce results today.