Phani Sekhar, Fund Manager-PMS at Angel Broking feels that Axis Bank may touch Rs 450 in next six months.
Phani Sekhar, Fund Manager-PMS at Angel Broking told CNBC-TV18, " Axis Bank is a good hold over six months, one-two years and these kind of stories are relentless compounding stories so the longer you hold the better money you make. We are at the threshold of the economy turning over at least some reform measures have started and if the economy turns around then Axis bank is only negative that the market had been concerned about was its exposure to the SME sector. That negative will also go away, we have seen in the results that they have been able to maintain their NIMs at about 4 percent, have been able to grow advances at around 16-18 percent, earnings have grown at 18 percent."
"I don't see why the figures going forward will be lower than what they have been till now. Asset quality is satisfactory. So if one is looking at six months then I think the price of around Rs 450 is possible but if one stretches it to one-two years then he/she can look at a steady compounding of 20-25 percent every year," he added.
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