Axis Bank share price: Sharekhan maintains Buy rating with a revised price target of Rs 900
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.
Axis Bank’s Management commentary was positive and indicated that FY2022E is likely to be a strong year for growth and profitability: ANI