Axis Bank is trading 1.4% higher at Rs 2,024, also its record high on the National Stock Exchange (NSE) ahead of April-June (Q1) quarter earnings on Tuesday.
Analyst at Kotak Securities expects Axis Bank earnings growth to remain muted. Impairment levels to remain unchanged.
Analyst expects revenue growth to slow down to 11% year on year (YoY), net interest income (interest income minus interest paid) growth muted at 15% yoy.
"Net interest margins are likely to stay flat quarter on quarter. No surprises anticipated on asset quality front. Driver of loan book is likely to be retail and SME with muted activity in the corporate loan book", says analyst at Edelweiss Securities.
Analysts at ICICI Securities maintain ‘buy’ rating on Axis Bank with a target price of Rs 2,405 saying that bank’s credit growth may be stable around 17% YoY.
“We expect deposit growth to improve to 17.8% YoY. Strong profitability growth may sustain at 22% YoY to Rs 1,723 crore supported by 20% YoY NII growth. Trading gains can surprise positively. Asset quality may remain stable,” analysts said in results preview.
Meanwhile, the bank said it has fixed July 30, 2014 as the record date for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each of the Bank on sub-division.
Analyst at Kotak Securities expects Axis Bank earnings growth to remain muted. Impairment levels to remain unchanged.
Analyst expects revenue growth to slow down to 11% year on year (YoY), net interest income (interest income minus interest paid) growth muted at 15% yoy.
"Net interest margins are likely to stay flat quarter on quarter. No surprises anticipated on asset quality front. Driver of loan book is likely to be retail and SME with muted activity in the corporate loan book", says analyst at Edelweiss Securities.
Analysts at ICICI Securities maintain ‘buy’ rating on Axis Bank with a target price of Rs 2,405 saying that bank’s credit growth may be stable around 17% YoY.
“We expect deposit growth to improve to 17.8% YoY. Strong profitability growth may sustain at 22% YoY to Rs 1,723 crore supported by 20% YoY NII growth. Trading gains can surprise positively. Asset quality may remain stable,” analysts said in results preview.
Meanwhile, the bank said it has fixed July 30, 2014 as the record date for the purpose of ascertaining the eligible shareholders who would be entitled to receive 5 equity shares of nominal value of Rs 2 each in lieu of 1 equity share of nominal value of Rs 10 each of the Bank on sub-division.
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