From Investing.com: 2024-05-27 09:21:56

Axis Bank, a key constituent of the banking index, reached a new all-time high today. With a weightage of 11.51% and a market cap of INR 3,62,550, it is the 4th largest bank in India. FIIs have increased their holdings to 53.84%, while mutual funds slightly reduced theirs to 22.67%.

The bank reported record revenue and net income of INR 1,37,989 crore and INR 26,317 crore, respectively. The net income has grown at a remarkable 88.4% CAGR over 5 years. With the stock up 27.8% in the last year, there is still a valuation gap of 31%, with a fair value of INR 1,555.

Investors may be wondering whether to take profits or hold, but a InvestingPro financial health check gives Axis Bank a score of 3, indicating good performance. At a discounted rate of INR 216/month, investors can subscribe to InvestingPro to optimize their investment strategies and potentially unlock the stock’s upside potential.



Read more at Investing.com: This Bank Hits All-Time High; What Should Investors Do? By Investing.com