Buy Recommendation by Sharekhan
Sharekhan recommended a buy rating on Axis Bank with a target of Rs 860. The brokerage believes that long term positivities offer comfort. Besides the recent price correction(~10% in the last 2 months) make the risk-reward favourable.
According to the brokerage, the stock Axis bank is a potential candidate for re-rating due to its improving fundamentals. Furthermore, the brokerage believes that the factors like incremental addition to better-rated clients and its own client-driven retail strategy augur well.
Also, sale deals by borrowers risk weights reduction by RBI for retail loans, its own robust franchise, adequate capitalization, and de-risking strategy make Axis bank an attractive investment option for investors.
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