Buy Axis Bank, target price Rs 760: Yes Securities

Yes Securities has buy call on Axis Bank with a target price of Rs 760. The current market price of Axis Bank Ltd. is Rs 729.6. 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 223816.60 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-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 20966.61 Crore, up 3.36 % from last quarter Total Income of Rs 20285.41 Crore and up 2.54 % from last year same quarter Total Income of Rs 20446.79 Crore. The bank reported net profit after tax of Rs 3387.70 Crore in latest quarter.

Investment Rationale
The stock has turned upwards after taking support at the previous cluster of supports. Further, a sustained trade above Rs 735 will take it beyond its 200-DMA confirming the bullishness. RSI is also suggesting the same.

Promoter/FII Holdings
Promoters held 9.71 per cent stake in the company as of 31-Dec-2021, while FIIs owned 51.5 per cent, DIIs 26.15 per cent.