Stocks To Buy 22 April 2024
Global brokerage firm Jefferies has recommended buying shares of Axis Bank. During Friday’s trading session, shares of Axis Bank were under selling pressure. However, by the end of the day, buying in the shares increased. The board meeting of Axis Bank’s directors will be held on 24th April, 2024. The board may discuss the proposal to raise funds.
Axis Bank’s shares are up by 6% in 2024. The shares of Axis Bank closed at Rs. 1,031.70 on Friday, 19th April, 2024, up by 0.75%. On Monday (22nd April, 2024), the shares were trading at Rs. 1,046, up by 1.64%.
According to experts at Jefferies, the shares of Axis Bank could touch Rs. 1,380 in the coming months. This means that the shares could rise by 35% from their current price. Over the past year, the bank’s shares have given a return of 18% to investors. The share price of Axis Bank is 12% lower than its 52-week high. On December 5, 2023, Axis Bank’s shares were trading at over Rs. 1,151.
Axis Bank will announce its financial results for the March 2024 quarter on 24th April, 2024. The bank may also announce a decision on the possibility of raising funds. If Axis Bank raises 15% of its net worth, its valuation could reach Rs. 20,000-25,000 crore. This would increase Axis Bank’s capital adequacy ratio by 160 points and book value by 4-6%. The return on equity for Axis Bank’s shares would be 17%.
Get ready to invest in Axis Bank as it looks set to deliver strong returns in the near future!
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
