Buy Axis Bank, target price Rs 1050: ICICI Securities

ICICI Securities has buy call on Axis Bank Ltd. with a target price of Rs 1050.0. The current market price of Axis Bank Ltd. is Rs 715.8 Time period given by analyst is year when Axis Bank Ltd. price can reach defined target. .
Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 223400.62 Crore).

Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2022.



Financials
The Bank has reported Standalone Non Performing Assets (Gross NPAs) at .00 % of total assets and Standalone Net Non Performing Assets (Net NPAs) at .00% of total assets for the quarter ending #LatestQuarterDate.

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 22686.46 Crore, down -1.37 % from last quarter Total Income of Rs 23000.69 Crore and up 11.84 % from last year same quarter Total Income of Rs 20285.41 Crore. The bank reported net profit after tax of Rs 4380.59 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 9.7 per cent stake in the company as of 30-Jun-2022, while FIIs owned 51.35 per cent, DIIs 26.7 per cent.