Buy Axis Bank, target Rs 680: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on Axis Bank Ltd. with a target price of Rs 680. The current market price of Axis Bank Ltd. is Rs 659.4. Time period given by the analyst is Intra Day when Axis Bank Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 645. Axis Bank Ltd., incorporated in 1993, has a market cap of Rs 169462.64 crore.

Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 34137.47 Crore to Sales Value (74.56 % of Total Sales), Income From Investment which contributed Rs 9983.30 Crore to Sales Value (21.80 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 1271.71 Crore to Sales Value (2.77 % of Total Sales) and Interest which contributed Rs 387.83 Crore to Sales Value (0.84 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 30938.33 Crore (5.96 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 12715.71 Crore (2.54% of total assets). For the quarter ended 30-09-2018, the company has reported a Standalone Interest Income of Rs 9954.99 Crore, up 3.57 % from last quarter Interest Income of Rs 9611.55 Crore and up 18.42 % from last year same quarter Interest Income of Rs 8406.31 Crore. The bank has reported net profit after tax of Rs 789.61 Crore in latest quarter.