Buy Axis Bank, target price Rs 849: HDFC Securities

HDFC Securities has buy call on Axis Bank with a target price of Rs 849. The current market price of Axis Bank Ltd. is Rs 787.7. Time period given by analyst is 10 days 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 241711.75 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 30-06-2021, the company reported a Consolidated Total Income of Rs 20285.41 Crore, down -3.53 % from last quarter Total Income of Rs 21028.45 Crore and up 4.23 % from last year same quarter Total Income of Rs 19461.77 Crore. The bank reported net profit after tax of Rs 2356.91 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 11.4 per cent stake in the company as of June 30, 2021, while FIIs held 53.7 per cent, DIIs 23.7 per cent and public and others 11.3 per cent.