Axis Bank stock nears all-time high, appoints new CEO, reports Q4 profit, and recommends dividend.

From Business Today: 2024-04-26 01:06:21

Axis Bank’s stock rose 1.22% nearing all-time high of Rs 1,151.50, appoints Amitabh Chaudhry as CEO. Q4 FY24 profit at Rs 7,130 crore, reversing year-ago loss of Rs 5,728 crore. Net interest income up 11.5% at Rs 13,089 crore, with recommended final dividend of Re 1 per share.

Analysts optimistic on Axis Bank, suggest buying with targets of Rs 1,160-1,220. Stock strong on charts, potential upside to Rs 1,170. Support at Rs 1,100, with near-term targets of Rs 1,153-1,240. Trading range expected between Rs 1,080 and Rs 1,150 for a month.

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