Would like to reccomend buy for Axis Bank: TS Anantakrishnan

In a chat with ET Now, TS Anantakrishnan, Head, Prime Wealth Management, shares his views on Axis Bank.

ET Now: Is Axis Bank a yes buy after their QIP because they have managed to raise money at Rs 1400 because of which the book value of Axis Bank has expanded and the price to book is looking rather attractive, would you buy Axis Bank on every decline and what is your one year price target for Axis Bank?

TS Anantakrishnan: As far as Axis Bank I would be a buyer. Lot of the concerns which were raised in terms of their NPLs did not pan out. The NPL position was much better than what people had estimated. Given the fact that they have raised capital, obviously their price will book multiple that you give on that capital would be much higher. So we are looking at close to 2000 as far as Axis Bank is concerned.