Axis Bank stock reports 22.7 percent advances growth in Q2

Published on 10/07/2026 at 10:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Axis Bank stock's Q2 deposits reached INR 14.521 trillion on September 30, 2026, up 20.7 percent year over year. Its October 17 results date sets the next test.

Axis Bank, INE238A01034, Illustration mit AI erstellt.

Axis Bank stock (ISIN INE238A01034) was trading at INR 1,248.10 on the NSE on October 7, 2026 at 1:33 p.m. IST, up 0.01 percent. The Q2 FY27 business update reported strong loan and deposit expansion, giving the market a fresh operating benchmark before the detailed results.

Q2 advances outpace deposits

According to The Economic Times on October 6, 2026, gross advances reached INR 13.846 trillion as of September 30, 2026, up 22.7 percent from INR 11.284 trillion a year earlier and 8.8 percent from June.

Total deposits rose 20.7 percent year over year to INR 14.521 trillion and 5.8 percent sequentially. The comparison matters because CASA deposits grew 10.6 percent to INR 5.296 trillion, while term deposits expanded 27.3 percent to INR 9.225 trillion.

FCNR flows change the reading

The update also adds a funding-quality question. The Economic Times reported that Axis Bank mobilized USD 10.62 billion in FCNR(B) deposits by September 30, 2026, while loans linked to those deposits stood at USD 4.57 billion.

Excluding the related loans, gross advances would have grown 18.8 percent year over year and 5.3 percent from June. Deposits would have grown 17.0 percent year over year and 2.6 percent sequentially, making the adjusted figures an important counterweight to the headline growth rates.

Analysts set higher targets

As CNBC TV18 reported on October 6, 2026, Goldman Sachs rated the stock Buy with a target of INR 1,477, while Citi also rated it Buy with a target of INR 1,620. The report said 49 of 52 analysts had Buy ratings and three had Hold ratings, with no Sell rating.

The targets frame the next question around profitability rather than loan growth alone. Goldman Sachs pointed to a projected 18 percent compound annual growth rate in core pre-provision operating profit for fiscal years 2027 to 2029, while Citi highlighted the effect of FCNR-linked deposits and overseas lending.

October 17 results date

According to Investing.com, Axis Bank's board is scheduled to review unaudited standalone and consolidated results for the quarter ended September 30, 2026, on October 17, 2026. The figures will be subject to limited review by the bank's joint statutory auditors.

Market value reaches INR 3.9 trillion

Axis Bank's market capitalization was INR 3.9 trillion on October 7, 2026. The stock's 52-week range was INR 1,150.30 to INR 1,418.30, placing the intraday price below the yearly high while the Q2 operating figures provide the main test for the next valuation step.