Analysts are optimistic about Axis Bank Ltd., projecting its share price could rise to ₹1,525 following its September quarter results announced after market hours on Wednesday. Among 51 analysts covering the stock, 41 have a “buy” rating, while the rest recommend “hold,” with no “sell” ratings.
A one-time provisioning of ₹1,231 crore affected the bank’s quarterly profits, but other key metrics surpassed expectations. Core income increased, asset quality improved, and slippages declined sequentially.
HSBC upgraded its price target to ₹1,460 from ₹1,340, maintaining a “buy” rating, citing strong loan growth, margins, and asset quality despite the one-off provision. Jefferies raised its target to ₹1,430 with a “buy” call, highlighting positive trends despite RBI-mandated provisions. Bernstein and CLSA both retained “outperform” ratings, with targets of ₹1,250 and ₹1,400, respectively, noting improving asset quality and a positive earnings trend.
InCred set a ₹1,500 target with an “add” rating, citing systemic volume growth and moderating credit costs. The consensus suggests a 16% upside from current levels. Shares rose 3.2% to ₹1,207.5.