April 27, 2017 / 4:18 AM / 5 months ago

BUZZ-India's Axis Bank falls as Q4 profit sinks

** Shares of Axis Bank Ltd fall as much as 2.7 pct; top pct loser on NSE index

** India’s third-biggest private sector lender by assets reported a 43 pct fall in Q4 profit on Wednesday

** Bank adds 48.1 bln rupees of bad loans to existing pile in March qtr, taking the total to 212.8 bln rupees ($3.32 bln)

** Axis Bank has not provided guidance on F2018 slippages, but its specific credit cost guidance is high, implying high slippages or low recoveries or both - Morgan Stanley

** Jefferies analysts say general provisioning could inch up through FY18 across all stressed sectors

** Out of 51 brokerages, 17 rate the stock “buy” or higher, 17 “hold” and 17 “sell” or lower

** Up to Wednesday’s close, stock had risen about 15 pct this year compared with a 22 pct increase in the Nifty bank index ($1 = 64.0850 Indian rupees)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below