{"id":65665,"date":"2022-09-28T18:02:00","date_gmt":"2022-09-28T12:32:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=65665"},"modified":"2022-09-28T17:58:16","modified_gmt":"2022-09-28T12:28:16","slug":"icici-direct-sees-a-34-upside-in-this-bank-stock-do-you-own-it","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/icici-direct-sees-a-34-upside-in-this-bank-stock-do-you-own-it\/","title":{"rendered":"ICICI Direct sees a 34% upside in this bank stock; Do you own it?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1587272971\"><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 limited were trading lower by 1.3 per cent at Rs 727 levels till the afternoon on Wednesday. In the last five days, the stock has shed approximately 10 per cent.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2845386814\"><!-- 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>Despite the slow performance of the stock, the country\u2019s third largest bank is focused on expanding its business. Recently the bank announced it is set to invest somewhere around Rs 50 to Rs 70 crores to acquire a marginal stake in the Fairfax-backed Go Digit-Life Insurance.\u00a0<\/p><p>In a regulatory filing, the company said that it is planning to acquire an equity stake of up to 9.94 per cent in the insurance company.\u00a0<\/p><p>Axis Bank along with its two subsidiaries Axis Capital and Axis Securities owns a 12.99 per cent stake in Max Life Insurance. The lender further plans to raise the stake to about 20 per cent.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-1014347595\"><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><strong>ICICI Direct has a \u2018Buy\u2019 call on Axis Bank with a target price of Rs 970 which represents an upside of 34% from the current levels.&nbsp;<\/strong><\/p><p>In Q1FY23, the Net Interest Income (NII) of the bank stood at Rs 9,384 crore which was a 21 per cent increase from Rs 7,760 crore in Q1FY21. In the quarter under review, the total net profit jumped by 91 per cent to Rs 4,125 crore up from Rs 2,160 crore which they earned in the same quarter the previous year.\u00a0<\/p><p>The bank has also shown improvement in its asset quality as its Gross NPA ratio fell to 2.76 per cent in June from 3.85 per cent in the same period a year earlier.\u00a0<\/p><p>The promoters hold a 9.7 stake in the bank while the Foreign Institutional Investors (FIIs) hold a 46.58 per cent stake.\u00a0<\/p><p>The bank has a TTM PE ratio of 13.84 against a sector PE of 23.94 which implies that the stock is undervalued. The market capitalization of the bank is Rs 2,23,364 crores and a dividend yield of 0.14% as on September 28th, 2022.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Anoushka Roy<\/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 views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. 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-3690685679\"><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-3814435058\"><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 limited were trading lower by 1.3 per cent at Rs 727 levels till the afternoon on Wednesday. In the last five days, the stock has shed approximately 10 per cent.\u00a0 Despite the slow performance of the stock, the country\u2019s third largest bank is focused on expanding its business. Recently the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":35876,"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-65665","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>ICICI Direct sees a 34% upside in this bank stock; Do you own it? - 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\/icici-direct-sees-a-34-upside-in-this-bank-stock-do-you-own-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICICI Direct sees a 34% upside in this bank stock; Do you own it?\" \/>\n<meta property=\"og:description\" content=\"The shares of Axis bank limited were trading lower by 1.3 per cent at Rs 727 levels till the afternoon on Wednesday. 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