Jefferies India has retained its ‘Buy’ rating on the counter with a target price of Rs 2,400 per share. Investec has maintained ‘Buy’ rating and retained the target price at Rs 2,300 a share.
As an interim arrangement, Dipak Gupta, the joint managing director, will carry out the duties of MD and CEO until December 31.
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According to RBI, Axis Bank had the fastest MoM growth in the number of cards issued at 1.8%. However, per-card spending grew 2.6% MoM, which was lower than the sector's 4%.
Fees and services income rose 20% to Rs 1,827 crore and CASA ratio stood at 49%.Kotak Mahindra Bank’s asset quality was largely stable during the quarter.
The banker said the regulatory environment must be bold to let entrepreneurship thrive while also maintaining a supportive policy framework.