Axis Bank Ltd (AXISBANK)

Axis Bank Hits 52-Week High Amid Positive Q4 Results - 30 Apr, 2024

Axis Bank's shares hit a 52-week high as the bank reports strong Q4 results with a growth in net profit and higher-than-expected PPOP. KR Chokseys revises its target price for the stock to INR 1,345 per share and reiterates a BUY rating.

Axis Bank Shares Rise on Strong Q4 Results - 29 Apr, 2024

Axis Bank's Q4FY24 results show healthy credit growth, lower C/I ratio, and increased disbursement in retail and SME loans. The bank is rated a BUY with a potential upside of 17%. Shares rose after the results were announced and contributed to a 2.5% increase in the Bank Nifty index.

Axis Bank Plans Fundraising & Expects Loan Growth - 27 Apr, 2024

Axis Bank plans to raise Rs. 55,000 crore through a mix of debt and equity while expecting loan growth 300-400 basis points higher than the banking industry over the next three to five years.

Axis Bank Surpasses Kotak Mahindra Bank in Market Cap - 26 Apr, 2024

Axis Bank surpasses Kotak Mahindra Bank in market cap after reporting moderate top-line and healthy growth in profitability. The bank is expected to grow higher than the industry, with margins improving as cost of funds normalises. Technical analysis suggests bullish momentum with a potential rise towards Rs.1,230.

Axis Bank Overtakes Kotak Mahindra in Market Cap - 25 Apr, 2024

Axis Bank Ltd. has overtaken Kotak Mahindra Bank Ltd.'s market capitalization for the first time since Sept. 2016.

Axis Bank to Raise Rs 55,000 Crore Fund via Debt and Equity - 24 Apr, 2024

Axis Bank has announced plans to raise Rs 55,000 crore through a mix of debt and equity. Of the total amount, around Rs 35,000 crore will be raised through various debt instruments, while the remaining Rs 20,000 crore will be raised through equity shares or related securities. This announcement was made along with the bank's Q4 results, where it reported a profit of Rs 7,130 crore.

Axis Bank Expected to Report Net Profit for Q4FY24 - 23 Apr, 2024

Axis Bank is expected to report a net profit of Rs 6,305.25 crore for Q4FY24, with an uptick in interest income. However, the bank may see tepid numbers due to high base and lower treasury income.

Axis Bank Board Evaluates Equity Capital Raise - 22 Apr, 2024

Axis Bank is set to announce its financial results for the January-March period on April 24th. Analysts predict strong growth across segments with double-digit expansion in loans and deposits. Nomura Research expressed surprise at the prospect of Axis Bank initiating an equity capital raise, which could weigh on share price performance.

Axis Bank Faces Churn in Senior Management; NPCI May Review Cap on Payment Players' Market Share - 20 Apr, 2024

Amidst churn in senior management, Salil Pitale, Co-CEO of Axis Capital, has resigned from the firm. Meanwhile, NPCI is considering reviewing its decision to impose a 30% cap on market share for payment players offering UPI services by the end of 2024. Currently, Cred and Axis Bank Apps hold less than 1% each.

Axis Bank Shares Decline Despite Buy Recommendation from Jefferies - 19 Apr, 2024

Axis Bank's shares declined by 2.73% despite receiving a buy recommendation from Jefferies with a target price of ₹1,380. ICICI Securities suggests taking a Bear Put Spread options strategy. The bank's board will consider a fund raising proposal on April 24.

BNP Paribas Recommends Buy for Axis Bank Stock - 18 Apr, 2024

Axis Bank's Q3 FY24 consolidated total income rose to Rs 35136.83 crore, up 6.08% from the previous quarter. BNP Paribas Securities recommends buying Axis Bank shares with a target price of Rs 1400. However, the bank's stock price fell by 1.75% in Thursday's trading session.

Axis Bank Launches Co-Branded Credit Card with Shoppers Stop - 16 Apr, 2024

Axis Bank launches a new co-branded credit card with Shoppers Stop, while Axis Securities predicts an improvement in credit growth and asset quality trend. Meanwhile, Axis Bank faces objections regarding transferring equity shares of JITPL to lenders.

Max Life Insurance Crosses ₹1.5 Lakh Crore AUM Mark - 15 Apr, 2024

Max Life Insurance, a joint venture between Max Financial Services Limited and Axis Bank Limited, has crossed the ₹1.5-lakh crore mark in assets under management (AUM) as of March 31, 2024. The company has seen a 1.5x increase in AUM since September 2021, reflecting a growth rate of over 20% year-on-year. Max Lifes gross written premium grew by 16% to ₹18,793 crore in first nine months of FY24.

Bain Capital Exits Axis Bank After Selling Stake - 10 Apr, 2024

Private equity major Bain Capital has exited Axis Bank after selling its entire stake in the lender for $429 million. Analysts predict mid-single-digit growth in net interest income and margin compression for the banking sector, with a preference for AXSB and HDFCB. Meanwhile, Bain Capital divested a 1.08% stake in Axis Bank for Rs 3,574 crore through open market transactions, with Mirae Asset MF and ICICI Prudential MF among the buyers. The Axis Bank stock is expected to rise towards Rs 1,350-1,400 if it takes off Rs 1,100-1,120 levels decisively.

Bain Capital Sells Stake in Axis Bank - 09 Apr, 2024

Private equity firm Bain Capital has sold a 1.08% stake in Axis Bank for Rs 3,574 crore through open market transactions. The shares were bought by several investors including Mirae Asset Mutual Fund and ICICI Prudential Mutual Fund.

Bain Capital to Exit Axis Bank with Block Deal - 08 Apr, 2024

Private equity firm Bain Capital is set to exit Axis Bank by selling 33.4 million shares worth $431 million via a block deal at a price range of Rs 1,071-Rs 1,076.05 per share.

Axis Bank Receives Regulatory Approvals for Infusion in Max Life Insurance - 05 Apr, 2024

Axis Bank has received regulatory approvals for its proposed infusion of Rs 1,612 crore in Max Life Insurance. The bank also allotted equity shares under its ESOP/RSU scheme. Motilal Oswal prefers ICICI Bank over Axis Bank. Atul Mehra is appointed as the new MD & CEO of Axis Capital.

Axis Bank Receives Regulatory Approval for Max Life Subscription - 04 Apr, 2024

Axis Bank has received all required regulatory approvals for its proposed subscription of shares in Max Life Insurance. However, ICICI Bank is currently preferred over Axis Bank due to the latter's constrained credit growth and pressure on margins.

Axis Bank Gets CCI Nod for Stake Acquisition in Max Life Insurance - 03 Apr, 2024

The Competition Commission of India has approved Axis Bank's proposed acquisition of a stake in Max Life Insurance Company Ltd, allowing the bank to increase its direct stake in Max Life to 16.22% and collective stake to 19.02%. The move is aimed at supporting Max Life's future growth plans, enhancing its capital position, and improving solvency margins.

Axis Bank Gains CCI Approval for Max Life Stake Buy - 02 Apr, 2024

Axis Bank has received approval from the Competition Commission of India (CCI) for its additional 6% stake purchase in Max Life Insurance valued at ₹1,612 crore. The bank's 9MFY24 profit is up 16% to ₹17,732 crore with a consolidated return on equity or RoE expanding 82 bps to 18.86%.