Axis Bank shares jumped 3% after global brokerage Goldman Sachs upgraded its view on Indian financials, signaling the end of the prolonged “muddle through” phase. The brokerage highlighted early signs of improvement in asset quality and profitability (PPOP-ROAs), even as it factors in a 100bps interest rate cut.
Goldman Sachs upgraded Axis Bank to a “Buy” rating with a target price of ₹1,228, citing mean-reversion in valuation and improved growth visibility. The report also noted that potential liquidity infusions could further support growth momentum.
Despite near-term challenges like sluggish credit growth, continued pressure on Net Interest Margins (NIMs), and credit costs, the brokerage believes the worst of earnings downgrades could bottom out by the first half of FY26. This could present a favorable entry point for long-term investors.
Axis Bank shares opened at ₹1,061.00 and hit a high of ₹1,083.65 during the trading session. The stock also marked a low of ₹1,061.00. Over the past 52 weeks, Axis Bank has seen a high of ₹1,339.65 and a low of ₹933.50.
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