Axis Bank's shares rallied as much as 6.3 per cent intraday on Friday though it reported subdued results for the September quarter of 2024-25 (Q2FY25). The stock hit an intraday high of ₹1,203.7 per share on the BSE, before settling 5.6 per cent higher at ₹1,195.7 apiece, as analysts see limited valuation downside in the stock from current levels. By comparison, the benchmark BSE Sensex closed 0.27 per cent higher. Brokerages, however, have cut their earnings forecast by up to 5 per cent over FY25-27 to factor in Q2 results.
Q2 hits and misses
Axis Bank reported a mixed set of earnings in Q2FY25, according to analysts. Net profit, which beat estimates, was aided by a one-time tax provision reversal (of ₹550 crore) and stood at ₹6,918 crore compared to ₹5,864 crore in Q2FY24.
The lender's pace of loan growth slowed to 11 per cent year-on-year (Y-o-Y) in Q2FY25, compared to 14 per cent Y-o-Y growth in Q1. Quarter-on-quarter (Q-o-Q), loans were up barely 2 per cent. Retail loans were up 2 per cent Q-o-Q, small and medium enterprises (SME) loans rose 6 per cent and corporate loans were flat.
Diese Geschichte stammt aus der October 19, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der October 19, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Pope urges 'all people of all nations' to silence arms
Pope Francis in his traditional Christmas message Wednesday urged \"all people of all nations\" to find courage during this Holy Year \"to silence the sounds of arms and overcome divisions\" plaguing the world, from the Middle East to Ukraine, Africa to Asia.
Women in auto sector grapple with low wages, surging finger injuries
The severity of injuries among women in India's auto sector has been rising steadily from 2019 to 2024, according to the latest report by the Safe in India Foundation (SIIF), released last Friday.
Regular staffers in CPSEs decline 3.14% in FY24
Share of contract workers rises 8.8% to 704,565 in the same period
AI to D2M—DPG 2.0 needs deep-tech action now
From artificial intelligence to direct-to-mobile broadcasting, India faces a technology strategy dilemma on whether to develop indigenous deep-tech ecosystems or to follow the lead on technologies developed outside India.
SURETY VS GUARANTEE
Surety bonds have begun to outshine bank guarantees. But did they come in too late?
10 Picks Tailored for 2025 Market Terrain
These stocks, handpicked by top brokerages, offer a blend of value and growth. After declining 13-37% from their 52-week highs, these scrips boast reasonable valuations and high return on equity, signalling strong upside potential. KRISHNA KANT outlines the blueprint for gains
Shah, Naidu, other NDA leaders meet at Nadda's residence
Leaders of the National Democratic Alliance (NDA) met at BJP president J P Nadda's Delhi residence on Wednesday on the birth centenary of former prime minister Atal Bihari Vajpayee.
PM Recalls Ambedkar's Vision, Slams Congress
Prime Minister Narendra Modi on Wednesday accused Congress of ignoring Dr B.R. Ambedkar's contribution to the development of water resources in the country as he laid the foundation stone of the Ken-Betwa river linking project in Madhya Pradesh.
AAP Schemes Disowned by Delhi Govt's Own Depts
After the Bharatiya Janata Party (BJP) and the Congress termed two of the Aam Aadmi Party (AAP)'s recently announced welfare schemes a hoax, two senior Delhi government officers issued public notices on Wednesday disowning these schemes.
Lock in long-term returns with non-par plans
With markets doing well for four years, many investors turned to unit-linked insurance plans (Ulips). However, with volatility increasing, traditional non-participating (non-par) insurance plans are gaining popularity for their guaranteed, tax-free returns.
