It has taken three years for Axis Bank and ICICI Bank to win back the Street’s faith. Sentiment was already turning in favour of the two banks, and got stronger with the December quarter (Q3) results. These showed their asset quality woes were well behind them.
The two are now the most favoured picks among private banking stocks. Analysts polled on Bloomberg ascribe a 12-month target price of Rs 430 (20 per cent upside) for ICICI Bank’s stock, while those at CLSA have increased their weight on the Axis Bank stock in its model portfolio. The headline numbers were ...
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