Axis Bank: Banking On Sound Business

Company Name Axis Bank Current Market Price Rs 1,108 Calendar Year Return 17.69% *** Axis Bank is among India's leading private-sector bank, catering mainly to small business banking, small and medium enterprises (SME), Bharat Banking, and retail loans. With a network of 5,152 branches, it is focusing on Bharat banking, driven by higher growth and increased share in rural and semi-urban (RuSu) markets. Investing Rationale Q2FY24 Result: The net interest income (NII)/pre-provision operating profit (PPOP)/profit after tax (PAT) growth stood at 18.9 per cent, 11.9 per cent and 10 per cent, respectively, while growth on advances and deposits was 22.8 per cent and 17.9 per cent year-on-year (y-o-y). The gross non-performing assets (GNPA) and net NPA (NNPA) were 1.73 and 0.36 per cent with provisioning coverage ratio (PCR) at 79 per cent. The return on assets (RoA) and return on equity (RoE)...