Nomura has maintained a Buy rating on Axis Bank with a target price of ₹1,230, citing inexpensive valuations and a healthy RoA/RoE outlook. The brokerage has also included Axis Bank as one of its top picks in the banking sector.
Despite a challenging liquidity scenario weighing on growth, asset quality remains robust, and profitability outlook is healthy. Nomura noted that Axis Bank’s valuations are attractive, making it a compelling investment opportunity for long-term investors.
Nomura remains optimistic about Axis Bank’s ability to deliver strong returns and believes the bank is well-positioned to navigate the current macroeconomic challenges, supported by its resilient asset quality and robust profitability metrics.
