Why the sell-off in Axis Bank’s shares on NIM compression fears is overblown
- Analysts who follow the banking sector closely are all positive about the future prospects of Axis Bank
Axis Bank reported excellent December quarter earnings, beating consensus estimates. It declared ₹5,850 cr in profit, 62% more than a year ago. In the nine months to 31 December, profit was up 72% to ₹15,310 crore. However, the stock fell 2.4%, indicating investors were disappointed. Other financial sector stocks have seen similar bearish responses to decent quarterly earnings.
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