Axis Bank – Attractive Valuations and Favorable Price Action

Axis Bank – Attractive Valuations and Favorable Price Action

Axis Bank CMP 900 – have surpassed the high it saw in May 2019. Axis Bank’s acquisition of Citi Bank assets which has 2.5 million credit card users will strengthen retail assets book of Axis.

Axis Bank CMP 900 – have surpassed the high it saw in May 2019.

In last three and half years its Gross NPAs have come down from 5.26 to 2.82.

With Price to Book Value of 2.33 and PE of 15, it is attractively priced in comparison to HDFC Bank which has PE of 21 and Price to Book value of 3.23 . ICICI Bank another private sector lender enjoys PE of 25 and Price to Book Value of 3.50

In 2019 the Price to Earning ratio of Axis Bank was in excess of 35.

Axis Bank’s acquisition of Citi Bank assets which has 2.5 million credit card users will strengthen retail assets book of Axis.

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