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Kotak Mahindra Bank loses fourth position to Axis Bank on Dalal Street. Shares drop 10% post RBI ban. Analysts foresee derating if issues persist, impacting profitability and growth trajectory.
Q4 earnings preview indicates private banks may outperform public sector lenders due to tight liquidity. JM Financial expects 5% earnings growth, while analysts focus on NII growth, asset quality improvement, and stock outlook based on deposit performance.
ICICI Bank vs Axis Bank: While shares of ICICI Bank rose 181 per cent, Axis Bank stock gained 42.54 per cent in five years.
The discussions have not concluded yet. More than one bank will likely migrate the merchant accounts as the policymakers wish to avoid any concentration risk though commercials will take precedence over everything
Axis Bank shares fell over 5% to Rs 1,034.75 on Wednesday despite higher-than-expected December quarter earnings. Positive commentary from brokerages failed to alleviate selling pressure in top banking counters. Morgan Stanley maintained an 'Overweight' stance, while Nuvama maintained a 'Buy' view. However, Motilal downgraded the rating to 'Neutral' due to growth challenges. Axis Bank reported a 4% YoY jump in standalone net profit to Rs 6,071 crore. Net interest income in Q3 rose 9% to Rs 12,532 crore.