LKP Research is optimistic about Axis Bank and suggests buying its stock. In their report dated April 25, 2024, they set a target price of Rs 1322 for the stock.
In the last quarter of the financial year 2024, Axis Bank achieved its target of having a return on equity (ROE) of more than 18%.
Additionally, the bank experienced a good increase in credit, with a growth of 14.2% compared to last year and 3.5% compared to the previous quarter
According to LKP research, “Based on our evaluation of the bank's standalone performance and prospects, we predict that the price-to-book value ratio (PBV) will be 2.2 times the adjusted book value per share (BVPS) by the year 2026.”
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