Dear Client,

Since 1 February 2020, the stock of Axis Bank is down by 41% as compared to negative 13% returns delivered by Sensex. The stock has massively underperformed the benchmark returns. Further, Axis Bank is available at a price/book of 1.4x when compared to 2x,3.2x & 3.5x of ICICI Bank, HDFC Bank & Kotak Mahindra Bank respectively. Hence, on the valuation front the stock is looking attractive.

Should one buy the stock from a longer term perspective, do check out our video:

For any queries, please write to us at Equityresearch@prudentcorporate.com.

We had release a video on factors which are making us bullish on ITC last week. Incase- you missed it. You can access the same by clicking here.

Warm Regards,
Prudent Research Desk