Kotak Securities has given a sell rating to Axis Bank with a target price of Rs 445. The share price moved up by 0.30 per cent from its previous close of Rs 462.75. The stock’s last traded price is Rs 464.15.

Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 141563.05 Crore).

For the quarter ended 30-06-2020, the company reported a Consolidated Interest Income of Rs 12835.67 Crore, down -.42 % from last quarter Interest Income of Rs 12889.52 Crore and up 9.45 % from last year same quarter Interest Income of Rs 11727.25 Crore. The bank reported net profit after tax of Rs 1108.10 Crore in latest quarter.

Investment Rationale
Strong reversal formation near important retracement level along with overbought stochastic cycle.

Promoter/FII Holdings
Promoters held 16 per cent stake in the company as of June 30, 2020, while FIIs held 48.4 per cent, DIIs 70.4 per cent and public and others 13.6 per cent.

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