Private sector bank Axis Bank has seen a rise of more than 4% on Friday (18 October). Axis Bank has released its second quarter results a day earlier i.e. on Thursday evening after the market closed. This rise in Axis Bank shares is being seen today only after the results of the July-September quarter. Axis Bank's profit has increased to ₹ 6918 crore in the September quarter. The bank's profit is increasing on the strength of core lending income and strong credit demand. After the results, many brokerage firms have also issued notes on the stock today.

Global brokerage firm Morgan Stanley has set a target price of ₹1,445 per share with an Overweight rating on Axis Bank. The note said that Axis Bank underperformed in the first quarter due to asset quality concerns. However, the situation has improved during the second quarter. The bank's credit cost has come down on a quarterly basis and the bank has put the one-time benefit in contingency provision. However, core income growth has been sluggish. Deposit growth is expected to increase in the coming time. Nomura has set a price of ₹1,380 per share on this stock with a Buy rating. This brokerage firm has said in its note that a sluggish quarter was expected from Axis Bank but the bank's performance has been better. There is a slowdown in loan and deposit growth. The market had already anticipated this. Net slippages and high write-offs have helped the bank reduce non-performing loans (NPLs). Treasury gains have reduced the impact of the slowdown in PPoP. The bank has used one-time gains to improve the provision buffer. This brokerage firm said that the risk-reward of Axis Bank looks better. Another global brokerage firm Macquarie has set an Outperfrom opinion on the stock at ₹ 1,400 per share. This brokerage firm acknowledged the growth. The positive surprise in profits was seen due to tax-writebacks and treasury gains. The bank has strengthened its balance sheet. The brokerage firm is currently keeping an eye on how it manages the stress going forward.