The Nifty Bank index underperformed benchmark indices on Wednesday but managed to recoup some losses as it bounced back after retesting 200-DMA on the daily charts. The index closed 239 points lower at 43,449. It fell to an intraday low of 43,230 and reported an intraday high of 43,692. The Nifty50 index rose 28 points … Read more
Brokerage firm Jefferies maintained a hold rating on Jubilant FoodWorks while Macquarie recommended a neutral stance on Axis Bank. Jefferies recommended an underperform rating on Tech Mahindra and Motilal Oswal recommended a neutral rating on Sona BLW Precision Forging. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: … Read more
Private investment firm Bain Capital has sold partial stake in private lender Axis Bank via block deal on Thursday, while many domestic and foreign funds lapped up the shares. According to block deal data available with the exchanges, Bain Capital has sold 2.25 crore shares or 0.7% stake in the lender at a weighted average … Read more
Amitabh Chaudhry, MD & CEO, Axis Bank, remains confident about gaining market share and says that Axis, one of the largest private sector banks in the country, is due for a rerating. Chaudhry says the bank is expanding the physical infrastructure and spending a lot of money digitally to ensure that “we can reach out … Read more
The domestic market recouped losses and closed marginally in the red on Tuesday amid weak global cues. The S&P BSE Sensex fell by over 100 points while the Nifty50 closed below 18,400 levels. Sectorally, buying was seen in energy, IT, and oil and gas stocks while some selling was visible in telecom, realty, auto, and … Read more
BENGALURU: Axis Bank, India’s third-largest private lender, said on Wednesday it was planning to raise up to Rs 12,000 crore ($1.46 billion) through the sale of Basel III compliant Tier II bonds. The fund raise will include a base issue of up to 1,000 bonds, aggregating to Rs 1000 crore , with a green-shoe option … Read more
Systemic loan growth touches yet another new high at 17.9% YoY for the fortnight ended Oct 7, 2022 (v/s 16.4% in the previous fortnight). The last time systemic loan reported ~18% YoY growth was in Sep’13. The outstanding credit base stood at Rs128.6t. Loan growth picked up in Oct’21 and has witnessed one-way robust growth … Read more
“For now, the bias is still positive till the time we hold that 16,750-16,800 mark and the momentum shifts towards extreme positivity at about 17,400. So, right now, we are still bang in the middle of the range, waiting for further breakouts,” says Nooresh Merani, independent technical analyst. Edited excerpts: This week, we have seen … Read more
MUMBAI: Axis Bank has no ‘spandana’ left to be involved in the boardroom battle at microfinance lender Spandana Sphoorty. The private sector bank told reporters today that it is no longer in talks with Spandana Sphoorty to acquire the microfinance lender. Axis Bank’s reasons may be fairly obvious given the turn of events at the … Read more
Most brokerages have raised target prices on Axis Bank by 5-20% after the lender’s September quarter results exceeded Street estimates. The private lender reported a profit of Rs 1,682.7 crore for the quarter against loss of Rs 112.1 crore in the same period a year ago. Brokerages said the asset quality is better than what … Read more