Axis Bank’s stock fell over 1% following concerns from UBS about rising non-performing loan (NPL) risks. UBS highlighted a significant rise in early delinquencies for commercial vehicle (CV) and business loans, with CV loan delinquencies up by 150 bps from March to October 2024. Business loans also saw a 70 bps increase in delinquencies. As a result, UBS has lowered Axis Bank’s target price to ₹1,210 from ₹1,250 while retaining a Neutral rating.
UBS’s analysis also pointed to deteriorating portfolio quality across lenders, leading to a 2–25 bps increase in credit cost estimates.
Axis Bank shares opened at ₹1,141.00, reaching a high of ₹1,145.20 and a low of ₹1,126.05 today. The stock’s 52-week high stands at ₹1,339.65, while its 52-week low is ₹995.70.
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