{"id":92427,"date":"2023-02-27T12:10:00","date_gmt":"2023-02-27T06:40:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=92427"},"modified":"2023-02-27T11:59:19","modified_gmt":"2023-02-27T06:29:19","slug":"blue-chip-large-cap-bank-stock-that-can-deliver-returns-of-up-to-41","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/blue-chip-large-cap-bank-stock-that-can-deliver-returns-of-up-to-41\/","title":{"rendered":"Blue chip: Large cap bank stock that can deliver returns of up to 41%"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4063116235\"><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>Axis Bank Limited, the fourth-largest private bank in India in terms of market capitalization, informed the exchanges that the deal to acquire Citibank India\u2019s consumer business and NBFC (non-banking financial company) business of Citicorp is expected to be completed by March 1st, 2023.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1214020214\"><!-- 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>As per the deal, the customers, employees, and assets of Citibank will be transferred to the private bank, for a consideration of Rs 12,325 crore. Further, a transition period of 18 months shall be given to the customers of Citibank to migrate to Axis bank, post the completion of the deal.&nbsp;<\/p><p>The shares of the <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/AXISBANK\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Axis bank<\/a><\/strong> were trading marginally higher at Rs 852 levels. In the past month, the stock has declined by approximately 3 percent. However, on a yearly basis, the stock has gained 15 percent.\u00a0<\/p><p>On a consolidated basis, their Net Interest Income (Interest earned-Interest expended) stood at Rs 11,748.59 Crores which was an increase of 33 percent Year on Year from Rs 8858.02 Crore. Their net profit in the period zoomed by 56 percent to Rs 6209.37 Crore up from Rs 3973.07 Crore in the same period a year earlier.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-434421589\"><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>The Bank&#8217;s total advances grew by 15% year-on-year and stood at Rs 7.62 lakh crore. Retail loans grew by 17% since last year and accounted for 56% of the bank&#8217;s net advances.&nbsp;<\/p><p>Further, the asset quality for the lender improved as the gross non-performing asset ratio fell by 12 basis points sequentially to 2.38%. The net NPA ratio, too, improved to 0.47% from 0.51% as on Sept. 30.&nbsp;<\/p><p><strong>Brokerage firm Morgan Stanley has given an &#8216;overweight&#8217; rating to Axis Bank for a target of Rs 1,200 per share which represents an upside of 41% from the current levels.&nbsp;<\/strong><\/p><p>The brokerage said that management expects likely completion of the Citi acquisition by March 1 this year. It is positive on a structural turnaround of the franchise and expects a return on equities (RoEs) to be more than 16 percent by FY24\/FY25. The valuation is expected at 1.5x and the FY24 book appears attractive the brokerage highlights.&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-after-content\" id=\"trade-384829553\"><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>Axis Bank Limited, the fourth-largest private bank in India in terms of market capitalization, informed the exchanges that the deal to acquire Citibank India\u2019s consumer business and NBFC (non-banking financial company) business of Citicorp is expected to be completed by March 1st, 2023.&nbsp; As per the deal, the customers, employees, and assets of Citibank will [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":39466,"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":[6709,6702,6703,6704,6705,5524,6706,6708,6701,6699,6700,3156,6707,948,936,3153,3157,2597],"class_list":["post-92427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-axis-and-citibank-deal","tag-axis-bank-and-citi-group","tag-axis-bank-and-citibank","tag-axis-bank-and-citibank-deal","tag-axis-bank-and-citibank-news","tag-axis-bank-buy-call","tag-axis-bank-buys-citibank","tag-axis-bank-deals","tag-axis-bank-latest-news","tag-axis-bank-news","tag-axis-bank-recent-news","tag-axis-bank-targets","tag-citibank-sold-to-axis-bank","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch"],"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>Blue chip: Large cap bank stock that can deliver returns of up to 41% - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The Bank&#039;s total advances grew by 15% year-on-year and stood at Rs 7.62 lakh crore. Retail loans grew by 17% since last year and accounted for 56% of the bank&#039;s net advances.\u00a0Further, the asset quality for the lender improved as the gross non-performing asset ratio fell by 12 basis points sequentially to 2.38%. The net NPA ratio, too, improved to 0.47% from 0.51% as on Sept. 30.\u00a0\" \/>\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\/?p=92427\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blue chip: Large cap bank stock that can deliver returns of up to 41%\" \/>\n<meta property=\"og:description\" content=\"The Bank&#039;s total advances grew by 15% year-on-year and stood at Rs 7.62 lakh crore. Retail loans grew by 17% since last year and accounted for 56% of the bank&#039;s net advances.\u00a0Further, the asset quality for the lender improved as the gross non-performing asset ratio fell by 12 basis points sequentially to 2.38%. 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