Axis Bank’s share price today has reached ₹973.10 as of 10.50 am, increasing by 2.64% on Jan 28, 2025. The high is coming after a run of declines, with the stock seeing fluctuations and challenges in the last few weeks.
Let’s explore a thorough analysis of Axis Bank’s stock, its market indicators, and analysts’ recommendations.
Recent Performance and Market Sentiment
Axis Bank shares witnessed some wild price swings in recent days. The stock closed at ₹959.30 on January 27, 2025, with the price going down from the previous weeks, trading above ₹1,000. For the week, the banking stock returned about -1.32% as market sentiment appeared cautious.
Factors such as weaker-than-expected growth in deposits and a rise in NPAs have led to the decline. Credit costs are an area of significant concern for analysts, like slippages on Axis Bank’s agricultural and unsecured loans. The Q3 performance by the bank indicates credit costs, now among the highest in the sector, that had dampened investor sentiment.
Despite these challenges, Axis Bank is still one of the largest private-sector banks in India. Thus, analysts still maintain a cautiously optimistic outlook for the stock in the long term.
Key Market Indicators
The market capitalization of Axis Bank stands at ₹3.02 trillion, and the stock is trading with a P/E ratio of 10.79. Such a low P/E ratio means the stock might be undervalued relative to its earnings potential. EPS stands at ₹91.04, which suggests that the bank is highly profitable despite recent challenges.
Additionally, the stock’s Beta of 1.10 shows that the stock of Axis Bank is marginally more volatile than the broad market. Thus, indicating that the investors should be prepared for the price movement in the short run.
Support and Resistance Levels
From a technical analysis perspective, Axis Bank’s share price is currently negotiating through critical support and resistance levels. The immediate support is identified at ₹956.10, while the resistance level is around ₹1,044.50. The stock is trading below its resistance level, which means that there could be further downside risks if it doesn’t regain momentum soon. Traders will watch these levels closely to gauge the potential for a breakout or further decline.
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Source : https://www.analyticsinsight.net/stocks/axis-bank-stock-gains-264-today-trading-at-97310