Buy Axis Bank, target Rs 639: Sameet Chavan

Sameet Chavan of Angel Broking has a buy call on Axis Bank with a target price of Rs 639.

The current market price of Axis Bank is Rs 612.35.

Time period given by the analyst is Intra Day when Axis Bank price can reach the defined target.


Sameet Chavan recommended keeping a stop loss at Rs 593.

Axis Bank, incorporated in the year 1993, is a banking company (having a market cap of Rs 1,57,319.77 crore).

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 32,662.40 Crore (6.52 per cent of total assets) and Net Non Performing Assets (Net NPAs) of Rs 14,901.56 Crore (3.09per cent of total assets). For the quarter ended 30-06-2018, the company has reported a Standalone Interest Income of Rs 9,611.55 Crore, up 9.81 per cent from last quarter Interest Income of Rs 8,753.01 Crore and up 17.06 per cent from last year same quarter Interest Income of Rs 8,210.58 Crore.

The bank has reported net profit after tax of Rs 701.09 Crore in latest quarter.