Gaurang Shah, VP at Geojit BNP Paribas Financial Services told CNBC-TV18, "We do have a positive coverage on Axis Bank and we have to factor in today’s number that the bank came out with and according to us, the estimates that we had lined up, the numbers were a tad better than what our expectation was.
Our initial targets stand at about Rs 580, post these numbers there is credible data to say that we could possibly revise it upwards to about Rs 630." "If you are a long-term investor with the rate cuts heading top-down and incremental improvement on the economic front, I think the corporate loan book and retail loan book is likely to grow at a much more faster pace and given the kind of performance in the numbers, I think the coming quarters could only improve the visibility and the growth. So I would say hold on to it.
As of now we are working with a target of Rs 580 but like I said, factoring today’s number, we would revise it upward but Rs 630 could be the possible target in year’s time," he added.
No comments:
Post a Comment