Global News

[ad_1] Shares of Axis Bank were in focus on Wednesday after financial services firm Motilal Oswal gave a buy call to the private lender with an upside of 21 per cent and a target price of Rs 1,130 per unit. Motilal Oswal said Axis Bank was its top pick, mentioning that the growth outlook of the lender was gaining traction. The brokerage house, in a research report, bet on the bank for making its balance sheet granular, all the while increasing the mix of retail loans and improving its provision coverage ratio. This, the research report states, has improved its key metrics such as loan growth, margins, and profitability. “Axis Bank remains focused on building a stronger, consistent, and sustainable franchise. Since asset quality issues are behind, slippages and credit costs will be under control. While the bank will continue to make investments, it expects to bring down the cost-to-assets ratio to 2 per cent by FY25-end,” the report marked out. The bank achieved its target of a con...