Analysts see up to 45% upside in Axis Bank

The threefold jump in December quarter revenue led the shares of Axis Bank shares up by 5%. The stock index recorded the highest Sensex performance as some of the brokerages maintained the bullish stance with targets suggesting up to 45% potential upside in the counter.

Axis Bank saw underperformance in the market with its shares falling to 17% in the final three months. It took the efficiency of the bank to a risk of being late on the asset entrance regardless of important legal responsibility features.

The underperformance came out as a result of sub-par progress, margin efficiency that Emkay Global stated ought to be preserved, a sturdy third-quarter print, and a greater outlook. It sees the inventory at Rs 1,020 and states that the potential acquisition of Citi’s retail and card portfolio and the appointment of government administrators would be the key next term occasions to monitor.