Sell Axis Bank, target Rs 630: Gaurav Ratnaparkhi

Gaurav Ratnaparkhi of Sharekhan by BNP Paribas has a sell call on Axis Bank Ltd. with a target price of Rs 630. The current market price of Axis Bank Ltd. is Rs 678.1 Time period given by the analyst is Intra Day when Axis Bank Ltd. price can reach the defined target. Gaurav Ratnaparkhi recommended to keep stoploss at Rs 697. Axis Bank Ltd., incorporated in 1993, has a market cap of Rs 177672.65 crore.

Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 41322.02 Crore to Sales Value (75.15 % of Total Sales), Income From Investment which contributed Rs 11349.07 Crore to Sales Value (20.64 % of Total Sales), Interest which contributed Rs 1621.33 Crore to Sales Value (2.94 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 693.35 Crore to Sales Value (1.26 % of Total Sales)for the year ending 31-Mar-2019.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs .00 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs .00 Crore (.00% of total assets). For the quarter ended 30-06-2019, the company has reported a Consolidated Interest Income of Rs 11727.25 Crore, up 2.86 % from last quarter Interest Income of Rs 11401.16 Crore and up 19.37 % from last year same quarter Interest Income of Rs 9824.55 Crore. The bank has reported net profit after tax of Rs 1262.98 Crore in latest quarter.