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Dear Client,
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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.
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Should one buy the stock from a longer term perspective, do check out our video:
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For any queries, please write to us at Equityresearch@prudentcorporate.com.
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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.
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Warm Regards,
Prudent Research Desk
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equityresearch@prudentcorporate.com
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