Axis Bank stock: JPMorgan raises target to INR 1,620

Published on 10/20/2026 at 17:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 net profit rose 37.60 percent to INR 70.03 billion. Axis Bank stock stood at INR 1,236.00 on October 19, 2026, down 4.19 percent on the NSE.

Targets, earnings and valuation

JPMorgan raised its Axis Bank target to INR 1,620 from INR 1,590 on October 18, 2026.
Second-quarter net profit rose 37.60 percent to INR 70.03 billion.
Axis Bank stock stood at INR 1,236.00 on October 19, 2026, down 4.19 percent on the NSE.
The bank traded at a price-to-earnings ratio of 12.90 on October 19, 2026.

Axis Bank, INE238A01034, Illustration mit AI erstellt.

On October 18, 2026, JPMorgan raised its Axis Bank target to INR 1,620 from INR 1,590 while retaining its Overweight recommendation, as Moneycontrol reported. The target is 31.07 percent above the October 19 NSE close of INR 1,236.00. Axis Bank stock closed at INR 1,236.00 on October 19, 2026.

Quarterly profit rose 37.60 percent

Axis Bank reported second-quarter net profit of INR 70.03 billion, up 37.60 percent from INR 50.89 billion in the same quarter a year earlier, according to The Economic Times. Net interest income increased 12.00 percent to INR 153.71 billion, while net interest margin was 3.36 percent. Profit was below the reported average estimate of INR 71.24 billion.

Stock sits 12.87 percent below high

Axis Bank's NSE price was 7.45 percent above its 52-week low of INR 1,150.30 and 12.87 percent below its 52-week high of INR 1,418.30 on October 19, 2026. Trading volume reached 12,761,304 shares, while the market capitalization was INR 3.8 trillion. The bank's price-to-earnings ratio was 12.90.

Margins remain the key variable

The second-quarter margin was 3.36 percent, down 0.10 percentage points from the prior quarter, while the margin excluding FCNR-B deposits was 3.47 percent, DSIJ reported on October 20, 2026. The same report said loans grew 23.00 percent year over year and deposits increased 20.70 percent year over year. It also identified a INR 2.54 billion one-off operating expense tied to labor-code and FCNR-B-related costs.

ICICI Securities kept its target at INR 1,620 in an October 18, 2026 research report and identified rising stress as a key risk, according to Moneycontrol. For investors, the valuation case now depends on whether loan growth can coexist with a recovery in net interest margin.

Axis Bank price and market position

Axis Bank stock stood at INR 1,236.00 on the NSE on October 19, 2026, down 4.19 percent from the prior close. The October 19 session therefore placed the stock below its October high while analyst targets remained above the market price.