Jeffries sees 25% upside potential in Axis Bank stocks and has recommended a ‘Buy’ with a target price of Rs 1,250. “We see 16% CAGR in profits (normalised) over FY23-26 and ROE around +18%. Valuations are at +20% discount to ICICI Bank (FY25) and can narrow. Axis stays among our top picks in the sector. Buy, “said jefferies in its report.
At the Analyst Day, the Bank management echoed the pursuit of ‘customer obsession’ that is evident in the ramp-up of the wealth management platform (1 in 3 richest families bank with Axis), hyper-personalisation of digital & branch channels, partnerships with fintechs/ CSCs/tech-platforms among others. Jefferies believes that this is helping improve Net Promoter Score (NPS) and that’s evident in business growth as well.
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Lok Sabha Election Results 2024: The counting has begun for the Lok Sabha election results 2024 and all eyes are on the stock market how it reacts to two possible scenarios – BJP-led NDA winning comfortably as exit polls predicted or the INDIA bloc staging an upset like UPA did in 2004.
In the previous session, all frontline-indices, including Sensex and Nifty, zoomed to fresh peaks and registered their best intraday gains in the post pandemic years. On Monday, the market participants were buoyed by most exit polls showing Narendra Modi’s BJP winning over 350 seats and the National Democratic Alliance (NDA) managing to grab between 360 and 400 odd seats.
But what if the exit polls prediction goes wrong and INDIA bloc allies manage to get majority or 295 seats as they are claiming. In this case, the stock market, which has already factored in BJP’s massive win, may tumble like nine pins.
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Allied Blenders IPO, a book-built issue, comprises both a fresh issue as well as an offer for sale.
Issue Size
The company will be raising a total of Rs 1,500 crore. Out of this, the company will use Rs 1,000 crore by offering 35.6 million shares, while promoters and other shareholders will dump their 17.8 million shares to collect Rs 500 crore.
Bidding Date
The company will open the subscription to investors for bidding on June 25 and close it on June 27.
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Price Band
The home-based foreign liquor distiller kept the price band in a range of Rs 267 …