India's Axis Bank gains on strong deposit numbers
BUZZ-India's Axis Bank gains on strong deposit numbers ** Shares of Axis Bank AXBK.NS up 1.5% at 1,361 rupees
** Bank's gross advances grow 18.8% while total deposits grow 18.2% YoY as of June 30
** Morgan Stanley says AXBK saw continued volume momentum while deposit growth higher than expectations
** Macquarie says among large banks, AXBK's deposit growth stood out and delivered the quickest growth
** ICICI Direct Research maintains strong deposit mobilisation remained the key highlight, with liabilities growing faster than advances sequentially—better than most large private bank peers
** Resulting improvement in the CD ratio provides greater balance sheet flexibility, while credit growth continues to remain ahead of the system - brokerage
** Stock rated as "Buy" on average by 39 analysts; median PT at 1,600 rupees - LSEG compiled data
** YTD, stock up 7.6%
(Reporting by Mridula Kumar in Bengaluru)