Should investors buy, sell or hold Axis Bank after Q4 earnings? Here’s what brokerages say – News 24-7 Live News 24-7 Live
Should investors buy, sell or hold Axis Bank after Q4 earnings? Here’s what brokerages say

Should investors buy, sell or hold Axis Bank after Q4 earnings? Here’s what brokerages say

Shares of Axis Bank rose almost 2 percent in early trade on Wednesday after the bank reported a net profit of Rs 2,677 crore for the fourth quarter of fiscal 2021 as against a net loss of Rs 1,387.8 crore in the year-ago period.The lender’s net interest income (NII) during Q4FY21 grew 11 percent to Rs 7,555 crore from Rs 6,807.7 crore, YoY, while net interest margin expanded marginally to 3.56 percent.

Axis Bank’s 4QFY21 results were strong on asset quality with slippage of just Rs 50 billion and negligible incremental restructuring. The bank continued with its conservative accounting stance on interest on interest reversals, security receipt write-downs and wage code provisions which provide a very strong base for profitability improvement in FY22CL, CLSA said.

News Source: CNBC TV 18

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