Axis Bank Achieves Rs 3 Trillion Market Cap, Hits New High Stock Price On BSE
Axis Bank has achieved a market capitalisation of Rs 3 trillion, reaching a new high stock price of Rs 978.85 on the BSE, ranking 17th among all BSE listed companies.
HDFC Bank leads the banking sector with a market cap of Rs 8.97 trillion, followed by ICICI Bank, State Bank of India (SBI), and Kotak Mahindra Bank.
Axis Bank has outperformed the market over the past week, gaining 7%, while other banks had mixed performance.
With a balance sheet size of Rs 13.17 trillion, Axis Bank is the third-largest private sector bank in India. The bank's acquisition of Citi's consumer banking portfolio has contributed to its growth, and analysts anticipate improved RoA and RoE, as well as strong earnings growth in the future due to its growth trajectory and stable margins.
With a strong balance sheet, reasonable valuations, and positive integration of Citi's portfolio, Axis Bank remains an attractive investment choice, with management confident about delivering above-system loan growth and addressing margin pressures through various strategies.
