Key Points
At 9:30 IST, Axis Bank shares were up 0.34% at 966.70 apiece. ..
Axis Bank stock price have sharply corrected in last couple of week and now we are seeing a first Lower Top Lower Bottom formation on the daily chart, In the near term we may see further correction in the near term with 940 as immediate next support, any bounce may face resistance around 1,000 levels," said Rajesh Bhosale - Equity Technical and Derivative Analyst, Angel One. ..
The private sector lender is projected by street estimates to record reasonable profit growth along with an increase in net interest income; but, margins will probably continue to face pressure, consistent with a wider trend in the banking industry as a whole..
Axis Bank is expected to see a 12% year-on-year (YoY) rise in its net profit in the quarter ended September 2023 to 5,970 crore from 5,329.8 crore in the corresponding quarter of last year..
For the quarter ended June, Axis Bank reported a net consolidated profit of 5,797 crore which was 41% higher than 4,125 crore reported during the corresponding quarter in the previous fiscal..
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