ICICI Direct has given Buy recommendation for Axis Bank recommended buy rating on the stock with a target price of Rs 1000 in its research rep with a target price of Rs. 1000 in its research report issued on Oct 21, 2022

ICICI Direct’s research report on Axis Bank

Axis Bank is the third largest private sector bank in India with a balance sheet size of Rs 11.8 lakh crore as on September 2022. • The bank has a large footprint across India with 4760 branches • Retail and SME comprise ~69% of total loans.

Outlook

We retain our BUY rating on the stock. We maintain our multiple at 2.3x FY24E ABV and revise our target price from Rs 970 to Rs 1000.

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