AXIS BANK SHARE PRICE TARGET 2024, 2025 to 2030

The third largest private bank of India, Axis Bank, as of 1st December 2023 is trading at Rs.1,104 with a market cap of Rs.3,40,319 Crore. Among the top 5 private Indian banks, Axis Bank’s P/E ratio is the lowest, making it available at an attractive valuation. Does this make Axis Bank a great investment in 2023? Let’s find out.

Investors are continually looking for promising equities that offer appealing returns as the financial markets continue to change and adapt to shifting economic environments. Axis Bank, a major player in India’s banking industry, is one such stock that has gained attention recently. YTD the Axis bank stock price is up 4.29%. Axis Bank is prepared to offer good performance in the upcoming years because to its history of consistent growth and strong financials.

This article will examine if Axis Bank is a solid bank stock to buy for investors aiming to expand their portfolios by looking more closely at their share price goal for the years 2023 to 2030.

Axis Bank Q2 Fy2024 Highlights

• Axis Bank’s Q2 Fy 2024 net profit increased by 10% to ₹5,864 crore.
• Net interest income (NII) grew by 19% year-on-year to ₹12,315 crore.
• Net interest margin (NIM) reached 4.11%, up 15 basis points year-on-year.
• The bank’s balance sheet expanded by 13% to ₹13.38 lakh crore as of September 30, 2023.
• Total deposits increased by 18% year-on-year, with CASA deposits at 44%.
• Advances grew by 23% year-on-year, with 58% of the net advances in retail loans.
• Asset quality improved, with gross NPA at 1.73% and net NPA at 0.36%.
• The bank issued 1.2 million new credit cards in Q2FY24.
• Provisions and contingencies rose by 48% to ₹815 crore.
• Axis Bank’s cumulative provision coverage ratio stands at 150% of gross NPA.

How to purchase Axis Bank shares?

Below are the trading platforms that you can use to purchase Axis Bank shares:

➤ Zerodha

➤ Upstox

➤ Groww

➤ AngelOne

➤ ICICIDirect

Axis Bank Share Price Prediction: 2023 to 2030

Axis Bank Share Price Target 2023

In December 2023, Axis Bank’s share price is forecasted to fluctuate within the ranges of ₹1,036.80 to 1,192.32. These estimates suggest a possible upward trajectory for the stock’s value.

As of December 1st, the current trading price for Axis Bank shares is 1,104. With a relatively modest Price-to-Earnings (P/E) ratio of 14.6, the stock presents an appealing investment opportunity, particularly in light of the projected price increases by the end of 2023.

Investors may find Axis Bank shares an attractive option as they anticipate potential growth in the near future.

Axis Bank Share Price Target 2024

Axis Bank Share Price Target 2025

Axis Bank Share Price Target 2026-2030

The Axis Bank share price target for the period spanning 2026 to 2030 varies from ₹1,246.74 to ₹3,087.16.

Financial Condition of Axis Bank: Last 5 years

In the last 5 years, the Axis bank has seen steady growth in revenue, reaching 94,501 crores in the TTM period. However, the interest expenses and other costs have also increased during this time. The financing profit has shown fluctuations but overall has improved significantly in the TTM period with a margin of 13%.

Other income has contributed positively to the bank’s profits. The tax percentage has varied, impacting the net profit figures. Axis Bank has been maintaining a dividend payout, which increased gradually in recent years. These financials indicate the bank’s efforts to grow and navigate through a changing financial landscape while continuing to reward shareholders through dividends.

Axis Bank share price target by Experts

ICICI Securities on Axis Bank share price target

Axis Bank has been recommended as a buy by ICICI Securities, with a target price of Rs 1200 per share. (November 27, 2023)

Sharekhan on Axis Bank Ltd share price target

FAQS

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Conclusion: Is Axis Bank share a good buy in 2023?

Axis Bank has shown strong financial performance with a 10%% growth in profit after tax for Q2FY24 and a consolidated annualized ROE of 19.44%. This along with improvements in asset quality indicate a strong start to the year. The bank has clear strategic focuses, has shown improvement in deposit quality, and has been successful in gaining market share in various districts.

Digital banking at Axis Bank is thriving, with notable increases in deposits and loans. The successful integration of the Citi business has boosted their credit card sector and term deposit mobilization. Their future outlook appears positive given their strong operating performance, capital position, growth in deposits and loans, and good asset quality.

The bank does not need to raise capital for the FY24 growth outlook. New branch expansions are profitable and they seem to have a competitive position in the market, especially in the fixed rate loan sector.

If we look at the current P/E ratio of Axis bank, we can see the ratio stands at 14.6 (as of Decemebr 1, 2023), which is compared to any other private bank is at a much lesser value indicating the stock is undervalued.

Based on all the above points we can say, Axis Bank seems to be on a growth trajectory. Axis Bank shares would be a strong long-term investment based on the bank’s increase in revenue, PAT, and dividend payout ratio, as well as the possible upside in the share price objective.

Author: Neelam KushwahaNeelam Kushwaha is a Bachelor's student in Computer Science at Hansraj College with a keen interest in finance and the stock market. She is a senior editor at Financesrule, where she shares her insights and expertise in researching stock price predictions. Neelam's analytical skills and unique perspectives make her a valuable asset to the financial community. In her free time, she enjoys reading and traveling.

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