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Axis Bank's re-rating 'imminent' provided it manages one operational metric

On the back of this consistent beat on earnings, analysts believe Axis Bank's stock is set to re-rate. They see up to 53 per cent upside in the stock

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4 min read Last Updated : Jan 26 2022 | 12:58 AM IST

Axis Bank is gradually narrowing its valuation gap with private peers, ICICI and HDFC Bank, as it continues to positively surprise the Street with its strong quarterly financial result.

On Monday, Axis Bank reported a strong operating performance with better-than-expected net profit growth and improved asset quality. The company reported PAT of Rs 3,614 crore, primarily on account of lower-than-expected provisions at Rs 1,337 crore – down 64.4 per cent YoY and 23 per cent QoQ.

Net interest income (NII) grew by 17 per cent YoY and 10 per cent QoQ at Rs 8,653 crore, aided by strong loan book

Topics : Axis Bank Q3 results Markets

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