India's Axis Bank up; HSBC hikes price target on earnings outlook improvement

ICICI Bank

23/09/2025 10:27

** Private lender Axis Bank AXBK.NS rises 2.1% to 1,168 rupees

** HSBC reiterates "buy" rating, lifts PT to 1,340 rupees from 1,270 rupees

** Earnings at an inflection point, brokerage says

** Two growth levers, lower credit costs and potential improvement in net interest margins, are expected to drive performance in the medium term - HSBC

** Notes, other factors such as stronger deposit growth and closing productivity gaps with larger peers will take longer to materialise

** Still, HSBC sees AXBK's earnings trajectory in FY26–28 as stronger than rivals HDFC Bank HDBK.NS and ICICI Bank ICBK.NS

** Average rating among 40 analysts tracking the stock is "buy"; median PT at 1,340 rupees, LSEG data shows

** AXBK has risen 7.5% in 2025; Nifty 50 .NSEI up 6.6%

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))