Buy Axis Bank, target price Rs 730: Yes Securities

Yes Securities has buy call on Axis Bank with a target price of Rs 730. The current market price of Axis Bank Ltd. is Rs 658.45. Time period given by analyst is Intra Day 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 202035.45 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
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 23000.69 Crore, up 4.12 % from last quarter Total Income of Rs 22091.19 Crore and up 9.38 % from last year same quarter Total Income of Rs 21028.45 Crore. The bank reported net profit after tax of Rs 4417.73 Crore in latest quarter.

Investment Rationale
It is bouncing off 4-yr mean support coinciding with demand zone, defending 3-digit Gann number of 625.

Promoter/FII Holdings
Promoters held 9.7 per cent stake in the company as of 31-Mar-2022, while FIIs owned 51.01 per cent, DIIs 26.42 per cent.