Axis Bank Share Price Reaches All-Time High as Stock Trades Ex-Dividend Today

Axis Bank Share Price Today Opened Higher and Reached an Intraday High of ₹1,339.65 on NSE.

Axis Bank, a major player in the Indian banking sector, is in the spotlight today for two key reasons: it is trading ex-dividend to determine eligible shareholders for a dividend payment of ₹1 per share, and it hit a new lifetime high of ₹1,339.65 per share on the NSE during Friday’s trading. According to BSE and NSE data, the stock is trading ex-dividend today to establish the list of eligible shareholders for the dividend.

Stock market experts highlight that Axis Bank shares are available at attractive valuations despite being strong performers in the banking sector. They note that the price-to-book ratio of Axis Bank shares is around 2.60, which is appealing given the recent bull run in the major indices. Experts also point out that Axis Bank’s earnings have remained robust and are expected to continue strong in the coming quarters, likely contributing to the stock’s record high during Friday’s trading.

Axis Bank Share Price Outlook

Reasons for Axis Bank Share Price Rise

Saurabh Jain, Vice President of Research at SMC Global, attributes the rise in Axis Bank’s share price to its strong performance and attractive valuation. He explains, “Axis Bank is an ideal portfolio stock for medium to long-term investors. The stock has risen around 20% year-to-date and is still available at attractive valuations. The price-to-book ratio of Axis Bank shares is around 2.60, making it appealing to long-term portfolio investors.”

Jain also notes that the recent statement from the RBI Governor, which negated the chances of a near-term interest rate cut, has significantly contributed to the rise in Axis Bank’s share price.

Outperformance and Fundamentals

According to the SMC Global expert, Axis Bank has outperformed the industry in recent years, particularly in the post-COVID period. This outperformance is due to several specific reasons, including [specific reasons]. Furthermore, the fundamentals of Axis Bank have been improving quarter after quarter, indicating a sustained uptick in the private lender’s performance.

Avinash Gorakshkar, Head of Research at Profitmart Securities, anticipates strong Q1 2024 results for Axis Bank. He states, “Axis Bank has consistently improved its CASA and margins quarter after quarter. Despite the buzz around potential rate cuts, the RBI has maintained a high-interest rate regime throughout the year. This has allowed Axis Bank’s NIMs to continue improving and surpass industry standards. As a result, Axis Bank is expected to report strong quarterly numbers in FY25.

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Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not The Chandigarh News. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.

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