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BofA, CLSA think Axis, IndusInd Bank are ripe for re-rating; here's why

Analysts at BofA Securities have upgraded Axis Bank, IndusInd Bank, and State Bank of India (SBI) on a "surprisingly" resilient asset quality outlook, and reasonable valuations

Topics
Bank stocks rally | BofA | Axis Bank

Nikita Vashisht  |  New Delhi 



indusind bank
BofA opines that the actual asset quality concerns in calendar year 2020 turned out to be

Shares of and Bank have, so far, outperformed the benchmark S&P BSE Sensex in calendar year 2021, on the back of consistent foreign capital inflow and hopes of sustainable economic recovery.

Till Thursday, January 7, shares of have rallied 8 per cent while those of have jumped 6 per cent on the BSE. In comparison, the S&P BSE Sensex is up 0.72 per cent, ACE Equity data show.And this outperformance is likely to continue.

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First Published: Fri, January 08 2021. 11:44 IST

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