Buy Axis Bank, target price Rs 805: ICICI Securities

ICICI Securities has buy call on Axis Bank with a target price of Rs 805. The current market price of Axis Bank Ltd. is Rs 753.65. 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 230884.10 Crore).

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 21028.45 Crore, up 5.61 % from last quarter Total Income of Rs 19910.93 Crore and up 1.17 % from last year same quarter Total Income of Rs 20786.23 Crore. The bank reported net profit after tax of Rs 2941.41 Crore in latest quarter.

Investment Rationale
Higher base formation above 20 weeks EMA, lower band of rising channel in place since June 2020


Promoter/FII Holdings
Promoters held 13.9 per cent stake in the company as of Dec 30, 2020, while FIIs held 51.4 per cent, DIIs 23.2 per cent and public and others 11.5 per cent.