Shares of Axis Bank, the country’s fourth-largest private sector bank, touched a new record high of ₹1,304 apiece in Thursday’s intraday session, November 27, gaining 1%. This marks the first time the stock has crossed the ₹1,300 level.
The bank’s shares have seen steady growth since August, delivering a 24% return so far, rewarding shareholders and contributing significantly to the Nifty 50’s rally, which reached a fresh record high after a gap of 14 months.
This sustained momentum has pushed Axis Bank’s market capitalization past ₹4 lakh crore, placing it among the elite group of only 19 listed companies to achieve this milestone, according to BSE data.
Brokerages remain positive on Axis Bank’s growth prospects, expecting it to outpace industry loan growth, with net interest margins (NIMs) likely to stabilize in the December quarter.
Analysts are also encouraged by improving asset quality, as the bank enhances collections through investments in human resources and technology, coupled with attractive valuations relative to peers, supporting a positive outlook on the stock.
Global brokerage UBS last week upgraded Axis Bank’s rating to ‘Buy’ from its previous rating, with a target price of ₹1,500 per share, citing receding concerns around asset quality and loan growth.
UBS expects the bank’s loan growth to be in the range of 14–15% for FY26 and FY27. Its return on assets (RoA) and return on equity (RoE) are projected at 1.7% and 15%, respectively, over FY26–28.
With a valuation discount to peers at 1.5 times its price-to-book estimate for FY27, the risk-reward appears favorable. The brokerage added that Axis Bank is better positioned than other PSU or mid-sized lenders.
Meanwhile, the bank announced that Anand Viswanathan will be appointed as the new Chief Risk Officer for a three-year term starting January 1, 2026, replacing Amit Talgeri, who will complete his second term as CRO on December 31, 2025, and will be relieved of his duties on January 18, 2026.
Stock positioned for ₹1,500 target, says analyst
On the technical front, Anshul Jain, Head of Research at Lakshmishree, expects the stock to touch ₹1,500 per share. He said the stock is breaking out of a 61-week (roughly 290-day) cup-and-handle pattern, a strong technical formation that usually signals the start of a sustained uptrend.
He added that the base has been supported by steady, accumulative volumes, indicating consistent institutional interest throughout the consolidation. According to Anshul Jain, the daily, weekly, and monthly moving averages are perfectly aligned and acting as a solid launchpad for the breakout to hold.
Anshul Jain further believes that if the stock sustains above the ₹1,300 zone, it opens the door for a swift move toward ₹1,500, which stands as the immediate upside target. He concluded that the overall structure remains bullish, with momentum tilted firmly in favor of continuation.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
