Axis Bank Share Price is now Bearish
About : AXIS BANK
Axis Bank doesn’t need any introduction however, it is the third-largest of the private-sector banks in India offering a comprehensive suite of financial products. The bank has its head office in Mumbai, Maharashtra. It has 4050 branches, 11,801 ATMs and 4,917 cash recyclers spread across the country as on 31 March 2019 and nine international offices. Axis Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 41322.02 Crore to Sales Value (75.15 % of Total Sales), Income From Investment which contributed Rs 11349.07 Crore to Sales Value (20.64 % of Total Sales), Interest which contributed Rs 1621.33 Crore to Sales Value (2.94 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 693.35 Crore to Sales Value (1.26 % of Total Sales)for the year ending 31-Mar-2019
Though it is one of the biggest banks in India, yet RoE : 7.21% , RoCE : 0.65% & RoA : 5.62%. Below than Industry Average Ratios alerts the investors for investment over a longer period of time. Along with this, promoter’s stake in the company is as less as 18.20% only. Also, even the company is reporting profit Year on Year, yet they are not sharing the dividend or as less as INR 1 with the shareholders.
Another alert gets triggered when we see a Net Profit in quarter ended Sep’18 of INR 790 Cr vs INR 1681 Cr in quarter ended Dec’18, a profit is as high as double in a single quarter. For the quarter ended Mar’19, the company has reported a Net Profit of INR 1505 Cr, -10.3% Q-O-Q. Subsequently, Price to Earning Ratio for the Stock is as high as 44.83 vs Industry PE stands at 26.76. Total liabilities of the company is currently at INR 33,158 Cr.
Axis Bank Share Price Update
Traders who are holding this stock for a purposeful gain, should sell the stock now. Because, as per the Price Trend & Chart Pattern made by the stock on Tuesday 2 Jul’19 is negative with above than average volume. Also, Relative Strength Index of the Stock is moving toward Oversold zone. Moving Average Convergence/Divergence is on Neutral Line. Axis Bank was in uptrend from a price of INR 757 to INR 820. Now, if the stock respects the Fibonacci Retracement, this should be corrected with minimum 50%. 21 Day Moving Average is at INR 797, 50 Day Moving Average is at INR 776 & 200 Day Moving Average Stands at INR 687 for the stock. Intrinsic Value of the share stand at INR -2367. Now with all the Indicators indicating negative sentiment, It is suggested to get out from the stock.
Current Price : 802.55
Target Price 1 : 795
Target Price 2 : 788
Stop Loss : 813
View on Last Trading Tips
I maintain my BUY CALL ON DMART with 4% profit till yet with unrevised target of INR 1500. I also maintain my SELL CALLS on PC JEWELLER with 2.62% Profit & AUROPHARMA with No Profit yet, however it will hit the target of INR 585 pretty soon.
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Note: Above mentioned Stock Tips are based on Technical or Fundamental Analysis. However, Stock market is always volatile and risk is always inclusive in the investment. Author is not liable for any losses.