Axis Bank's shares opened at ₹1,238.6 on the NSE, up 2% after the bank released its Q2 advance and deposit figures—
According to the company filing, gross advances increased 8.8% sequentially and 22.7% YoY to ₹13.84 lakh crore, while deposits grew 5.8% qoq and 20.7% YoY to ₹14.52 lakh crore—
Goldman Sachs reiterated a "buy" on Axis Bank, setting a target of ₹1,477—an upside of 20.7% from the current close—after noting the 23% YoY advance growth versus 19% in the prior quarter and 21% deposit growth versus 18% last year, according to analyst R. Kumar—
Citi’s "buy" rating carries a target of ₹1,620—an upside of 34.4%—and highlights $10.62 B FCNR deposits, which capture 8% of system‑wide mobilization and 3.5% of the bank’s loans through a leveraged overseas book, per Citi’s research—
Both firms point to easing cyclicality, with pre‑provision profit CAGR projected to jump to 18% from FY27‑29, up from 11% in the current fiscal, signalling margin recovery from FY27 onwards—
With shares trading 1.3% higher, Axis Bank remains 3% down YTD; analysts anticipate a 20‑34% upside as retail and SME disbursements gain momentum, while the bank aims to strengthen its retail/SME mix—