External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>We maintain a BUY with a TP of Rs 100 (1.1x FY23E ABV).</p><p>FY21 was a year of consolidation for Federal Bank (FB) with the management focusing on its commitment to become the ‘first choice’ bank for all stakeholders and pursue initiatives to enhance its status from ‘Presence’ to ‘Prominence’ across India. While the bank’s balance sheet growth was calibrated,its asset quality was maintained inline with larger peers. New initiatives undertaken in the past have been gathering pace in the areas of neo-banking and higher-yielding product segments which will drive margin improvement and lead to better ROAs.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We maintain a BUY with a TP of Rs 100 (1.1x FY23E ABV).FY21 was a year of consolidation for Federal Bank (FB) with the management focusing on its commitment to become the ‘first choice’ bank for all stakeholders and pursue initiatives to enhance its status from ‘Presence’ to ‘Prominence’ across India. While the bank’s balance sheet growth was calibrated,its asset quality was maintained inline with larger peers. New initiatives undertaken in the past have been gathering pace in the areas of neo-banking and higher-yielding product segments which will drive margin improvement and lead to better ROAs.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Federal Bank: On Track from ‘Presence’ to ‘Prominence’