Axis Bank falls 3% despite a 62% rise in Q3 profit; what should investors do now?

Brokerages are largely positive on Axis Bank post its December quarter earnings on the back of improved asset quality, margin expansion, loan growth and RoE/RoA at multi-year highs.

Axis Bank third-quarter profit jumps

Net profit rose to 58.53 billion Indian rupees ($719.53 million) in the three months ended Dec. 31 from 36.14 billion rupees a year earlier, Mumbai-based Axis Bank said in an exchange filing.

Banking sector earnings preview: Q3 to be another strong quarter, says Sharekhan; here are its top picks

Sharekhan said the banks in its coverage universe are expected to report 35 percent YoY earnings growth in Q3 FY2023E, driven by healthy loan growth and lower credit costs. Among private banks, Sharekhan expects ICICI Bank, Axis Bank, and Kotak Mahindra Bank to report strong advances growth.

Axis Bank, Apollo Tyres and 3 other stocks hit their all-time highs last week

Shares of Apollo Tyres have reached their all-time high of  <span class='webrupee'>₹</span>340 apiece in Friday's trade. The stock has been on a bull run for last 10 consecutive trading sessions. Axis Bank was very next on the list, the stock reached its lifetime high of  <span class='webrupee'>₹</span>970 apiece on January 03. 

Banks likely to remain on profitable path in New Year too with robust credit growth

Robust credit demand and high interest rate regime due to tight monetary conditions globally are also expected to help the profitability of the banks.

This banking stock that gained 38% in last one year is Motilal Oswal's top pick for 2023

Motilal Oswal highlighted that after reporting modest growth till the first half of the financial year 2022 (1HFY22), Axis Bank has been witnessing a healthy recovery as loan growth has improved to 14-18 percent in the past four quarters versus a 13 percent CAGR over FY19-22.

From ITC to Titan, 8 blue chip stocks Motilal Oswal advises buying in 2023

Despite a roller coaster ride, Nifty gained 4% (as of 22nd December) for the year as compared to a 10-20% fall in most of the global indices. In fact, it touched a fresh lifetime high of 18,888 in November. As we step into 2023, the global factors like recessionary fears, geo-political risks and rising Covid cases in China could keep the equity markets volatile. Amid this backdrop, Motilal Oswal expects two themes to play out in CY23 - credit growth and capex and thus sectors like BFSI, capital goods, infrastructure, cement, housing, defence, railways could be in focus. It has listed 8 blue chip stocks to pick for the upcoming year. Let's take a look:

S&P upgrades Axis Bank rating on improving asset quality

The US-based agency said India's robust economic growth should support borrowers' creditworthiness and Axis Bank's weak loans, or nonperforming loans, could decline to 2.5-3 per cent of total loans by end-March 2023, from 3.7 per cent as of March 31, 2022.

Stocks To Watch In Trade Today: Reliance, Sadbhav Engineering, NDTV, Lupin, JK Paper, PNB, Axis Bank; Here's why

India's NSE stock futures listed on the Singapore exchange were up 0.21% at 18,243 as of 0200 GMT. The spike in COVID cases in China weighed on sentiment, while the MSCI Asia ex Japan index remained little changed.

Private banks post solid earnings in Q2 driven by margin expansion and a fall in bad loans

According to the most recent RBI data, bank credit increased 17.94% YoY as of October 21, 2022. Deposit growth was 9.5% during the same period. Going forward, credit rating agency firm, Crisil sees bank credit to grow at 15% this fiscal and the next, citing broad-based economic recovery.

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Axis Bank falls 3% despite a 62% rise in Q3 profit; what should investors do now?

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