{"id":49764,"date":"2022-06-22T19:59:00","date_gmt":"2022-06-22T14:29:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=49764"},"modified":"2022-06-22T19:57:18","modified_gmt":"2022-06-22T14:27:18","slug":"fundamentally-strong-bank-stock-near-52-week-low-should-you-buy","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/fundamentally-strong-bank-stock-near-52-week-low-should-you-buy\/","title":{"rendered":"Fundamentally strong bank stock near 52 week low; Should you buy?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1457418961\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of Axis Bank Ltd have made a new 52-week low of&nbsp; \u20b9621.25 as of Wednesday. The stock is currently trading at&nbsp; \u20b9625.55 as of IST 13:45. The share is at a discount of 27.87% from its 52-week high<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-686140668\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The RSI indicator on the daily charts is at 31.48 points, which indicates that the shares of the company are in the oversold zone.<\/p><p>Even though the shares of the company have witnessed a decline, the company has given good prospects on a long-term basis.<\/p><p>In March, Axis Bank announced that it has acquired Citigroup&#8217;s retailing banking business in India for \u20b912,325 crores. Post the acquisition, Axis Banks&#8217; customer base will increase to approximately 2.85 crore savings accounts, over 2.3 lakh Burgundy customers and 1.06 crore cards.<\/p><div class=\"trade-content_5\" id=\"trade-2134024326\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Moody&#8217;s has reported the Baa3 deposit ratings of Axis Bank Ltd. Moody\u2019s has upgraded the Banks baseline credit assessment from baa1 to baa3. This indicates that the bank has improved its credit fundamentals and asset quality,&nbsp;&nbsp;<\/p><p>Moody\u2019s has stated in its rating rationale that the bank&#8217;s asset quality has improved considerably, with both gross and net non-performing loan ratios declining. It has also stated that the bank\u2019s provision coverage has expanded and credit prices have decreased. Higher profitability has resulted from lower credit costs.<\/p><p>For FY22 the company reported consolidated net revenue of \u20b986,114\u00a0 crores which is an increase of 6.5% compared to the previous financial year. Net profit for FY22 stood at \u20b914,164 crores which is an increase of 95% compared to the previous financial year.\u00a0<\/p><p>The dip in the provisions has contributed more to the profit growth of the bank than its income line. The overall provisions came at \u20b97,437 crores as against \u20b916,996 crores in the previous financial year. The Bank has also decreased its Net NPA from 1.05 in the previous financial year to 0.73 in the current financial year.<\/p><p><strong>HDFC Securities has given a buy call on AXIS bank with a target of \u20b9996 for the duration of one year.<\/strong><\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by: Aaron vas<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-1182546819\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-2511638050\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of Axis Bank Ltd have made a new 52-week low of&nbsp; \u20b9621.25 as of Wednesday. The stock is currently trading at&nbsp; \u20b9625.55 as of IST 13:45. The share is at a discount of 27.87% from its 52-week high The RSI indicator on the daily charts is at 31.48 points, which indicates that the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[],"class_list":["post-49764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fundamentally strong bank stock near 52 week low; Should you buy? - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/fundamentally-strong-bank-stock-near-52-week-low-should-you-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fundamentally strong bank stock near 52 week low; Should you buy?\" \/>\n<meta property=\"og:description\" content=\"The shares of Axis Bank Ltd have made a new 52-week low of&nbsp; \u20b9621.25 as of Wednesday. 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