Axis Bank Shines in Q4 2024: short term and long term targets

 Most awaited results in the banking sector has now Out in the market. Axis bank performed well at almost every front . Frankly speaking, such results were already expected by the market this is the reason Axis bank had given good return in the past few months. Today, 24-April-2024, Axis bank stock price was closed at 1063.70 (BSE).

Key highlights from Axis Bank Q4 Results 2024:

1. Net profit for FY24 jumped significantly by 160% to RS24,861 crore compared to RS 9,580 crore in FY23.
2. Axis Bank declared final dividend of Rs 1 per equity share.
3. Rs55, 000 crores Fund raising Announcement by Axis Bank management team.
4. Standalone net profit of Rs 7.129.67 crore for the March quarter compared with Rs 6,071.10 crore profits in the December quarter which equal to 17% Jump.
5. Nearly 23% Jump in the Income of Axis Bank YOY.
6. Cumulative provisions of of Axis bank nearly Rs 12,134 crore at the end of Q4FY24.
7. Net NPA  of Axis Bank came in at 0.31% against 0.36% QoQ.
8. Gross NPA of Axis Bank is 1.43 per cent against 1.58 per cent in the third quarter.
9. The bank's balance sheet grew 12% year-on-year to RS 14,77,209 crore as of March 31, 2024.
10. Axis Bank also witnessed strong growth in net interest income (NII) by 11% YoY to RS 13,089 crore in Q4 2024.

What is the Short term Targets of Axis Bank?

Axis Bank results are above the expectations of Indian stock market analysts. As per technical charts, Axis bank should continue its upward journey.

Traders & Investors should Strict stop loss of 1035rs or 1030rs on the closing basis in Axis bank stock for the short term Price targets of 1075rs, 1085rs, 1095, 1110rs, 1120rs+

In any case, If we will see profit booking in Axis Bank stock and stock will start trade below 1022rs price levels then we may see lower levels in the Axis bank stock which can drag it to 980rs.

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What is the Long term price Targets of Axis Bank?

Indian Private banking sectors growth is on the right track. Axis bank is one of the best bank in Indian banking sector. Even  from the lower levels Axis bank stock has become double but still we think that 1280rs to 1320rs+ price investors can expect in the long term in Axis bank stock.

We will advice to Investors that try to accumulate Axis bank stock at some lower levels in any profit booking in the stock from the higher levels.

What are the factors Investors should keep in their mind before investing in Axis bank stock for long term?

Market conditions:

 Market condition always play vital role such as interest rate risk and regulatory risk.

Financial performance:

Always track Financial performance before investing in the bank  such as return on assets (RoA), return on equity (RoE), loan growth, deposit growth, and asset quality.

Valuation of stock:

Keep in the mind and always track valuations of  the stock such as price-to-earnings (P/E) ratio, NPA’s, etc.

Economic indicators:

 Economic factors, always decide the price movement of any index indices  and Bank nifty stocks react very fast on such movements such as inflation, GDP growth, and employment rates.

Regulatory changes & new Announcements:

It is important to track Changes in banking regulations, such as capital adequacy requirements because it can change the trend of the stock.

Competition from other banks:

It is important to check performance of Axis Bank's competitors, such as ICICI Bank, HDFC Bank, and Kotak Mahindra Bank..

In Conclusion, Axis bank is a portfolio stocks & Investors should try to buy it for the long term point of view. For many Analysts of Indian stock market, Axis bank stock is trading at lower valuations as compared to its competitors but we believe that Axis bank stock is not trading at lower valuations but some price movement in Axis bank is still left  in the long-term.