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Axis Bank shares faced a steep decline on Wednesday, falling over 6% due to worries about potential increase in funding costs, a likely drop in net interest margin (NIM), and ongoing challenges with deposit growth. These concerns cast doubt on the bank's ambitious loan growth targets for FY24 and FY25.
Axis Bank Q3 results: Axis Bank's net interest margin (NIM), a key measure of profitability for lenders, came in at 4.01 per cent for the quarter ended December, as against 4.11 per cent for the July-September period.
Thu, Apr 01, 2021
Bank Holidays April 2021: There are several bank holidays in April but as per the Reserve Bank of India (RBI), the banks will remain closed for 9 days this month.
Tue, Mar 23, 2021
SBI, HDFC Bank, ICICI Bank, Axis Bank stocks: Today, Nifty Bank index was trading positively at around 3 pm on with major stocks like SBI, HDFC Bank, ICICI Bank, and Axis Bank trading positively. While Nifty Bank was trading at 34,334.35, up by almost 2.2 per cent, Axis Bank was the top gainer and was up by over 3% from the previous closing price of Monday. SBI was up by 1.9%
Mon, Mar 22, 2021
ICICI Securities interacted with the senior management of Axis Bank including Mr Amitabh Chaudhry - MD & CEO, Mr. Puneet Sharma – CFO and Mr Rajiv Anand – Wholesale Banking, Executive Director. The management highlighted, contrary to its cautious outlook 6-9 months back, it is now comfortable and positive about better economic recovery. Activity levels, too, are getting back to or better than pre-covid levels.
Wed, Mar 03, 2021
WhatsApp feature: Axis Bank WhatsApp Banking service will allow customers to seek information regarding their account balance, recent transactions, credit card payments, fixed and recurring deposit details, besides getting their queries answered in real-time.
Thu, Feb 25, 2021
The Insurance Regulatory and Development Authority (IRDAI) has given formal approval to the acquisition of a 12% stake in Max life Insurance by Axis Bank and its subsidiaries (namely, Axis Capital and Axis Securities). This was the final approval required for the deal, with CCI and RBI having approved it earlier. As per the transaction, Axis Bank, along with its entities, have the right to acquire up to 19% of Max Life Insurance.
The government has lifted restrictions on private banks participating in government businesses – a material positive that will improve their share of fees/deposits at government businesses over the medium term. Morgan Stanley awaits operational guidelines to gauge the extent of potential upside.
Wed, Feb 17, 2021
Axis Bank has a strong asset-quality position, with the bank having front-loaded provision (on a proforma basis), which dovetail into an improved balance sheet and provides impetus for growth in FY2022E and FY2023E. Axis Bank’s cumulative provisions (standard + additional other than NPAs) translate to 2.08% of standard loans.
Wed, Feb 03, 2021
Large private banks have emerged stronger post crisis, balance sheets are strongest ever, and growth/market share is accelerating. Expect RoAs to near/cross previous peaks, which will drive multiples much above long-term averages. Morgan Stanley now factor this in their price targets and see 30-40% upside.
Thu, Jan 28, 2021
Axis Bank operational performance was largely in line with expectations, but PAT slipped, owing to elevated provisions and slower advances growth. However, asset quality improved qoq. The front-loading of provisions on a proforma basis augurs well for the long term. Axis Bank's Net interest income (NII) grew 14% yoy to Rs 7373 cr and was in-line with estimates.
Mon, Jan 11, 2021
The new feature will be applicable on all new fixed deposits and recurring deposits.
Mon, Dec 21, 2020
SBI in PSB space, ICICI Bank, Axis Bank and HDFC Bank in Private Banking segment are Nomura recommendations today. Nomura remains positive on Financials as they think the asset quality impact of COVID-19 may not meaningfully spill over beyond the first half of CY21F and investors will gain confidence on the asset quality cycle. Nomura sees a good chance for credit cost undershooting for FY22F; hence, they think the earnings upgrade cycle will continue.
Tue, Dec 15, 2020
Nestle, HUL, BPCL, Axis Bank and ICICI Bank were among major losers on the Nifty, while gainers were Bajaj Finance, Bajaj Finserv, Eicher Motors, Shree Cements and JSW Steel. Except auto and metal, other sectoral indices ended in the red with Nifty PSU and FMCG indices fell 1 percent each.
Mon, Dec 07, 2020
Strengthening its offerings for the MSME segment, Axis Bank has launched an exclusive business credit card in partnership with Rupifi, an embedded lending fintech company that provides financial solutions to MSMEs.
Wed, Nov 18, 2020
Steady NII growth and controlled opex drive earnings Q2 FY21 has been an exciting quarter for the sector. The asset quality outlook appears to be better than was initially feared as collection efficiency improved sharply in Q2 and most banks guided for low restructuring levels. Motilal Oswal also saw an uptick in NII growth, aided by improved cost of funds and recovery in retail disbursements, with certain segments reaching pre-COVID levels.
Mon, Nov 16, 2020
Private sector lender Axis Bank has become the latest to revise the interest rates on fixed deposits (FDs). The new FD rates will come into effect from November 13. Axis Bank offers FDs across different tenures, ranging from 7 days to 10 years.
Thu, Nov 12, 2020
The mutual positive ideas emerging from our technical and fundamental analysis are ICICI Bank, Axis Bank, HDFC Bank, Dr Reddy’s, Infosys and HCL Tech. Our fundamental view argues for a rotation into Covid-impacted sectors as economic normalisation gathers pace through 2021 and CLSA see laggards from domestic economy sectors such as banking as the chief beneficiaries of such a move.
Fri, Nov 06, 2020
Brokerages have been on the job and here we provide a number of stock picks that will see some good returns flowing. So, from Axis Bank, Bajaj Auto, Bharti Airtel, Bajaj Finserv, ITC to Infosys, here are some great stocks to buy.
Thu, Nov 05, 2020
Auto sector has been outperforming for the last many months, so HDFC Securities have picked Amara Raja Batteries and CEAT. Private Banking space has seen good up move due to better than expected numbers and good management commentary. HPCL has been consolidating for a while, positive news on buyback can move the stock price on the upside.
Tue, Nov 03, 2020
A key takeaway from the Q2 FY21 is that the result season has seen a strong start. Upgrades to FY21 earnings outweigh downgrades. Asset quality trends are also better than the worst fears for banks.
Thu, Oct 29, 2020
CLSA maintains buy rating on Axis Bank, raising price target to Rs 700 from Rs 600.
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