Axis Bank shares fall over 4% despite 38% YoY jump in Q2 net profit. Why brokerages are revising target prices

What happened: Axis Bank reported Q2 FY27 results, with net profit rising from Rs 5,089 crore a year earlier but falling short of the Rs 7,124 crore average estimate. Brokerages issued mixed target prices after the results. Key numbers: Net profit Rs 7,003 crore, up 38% YoY. NII Rs 15,371 crore, up 12%. NIM 3.36%. GNPA 1.16%, NNPA 0.35%. Advances up 23% YoY. Why it matters: Jefferies kept a Buy rating and named the stock a top pick, citing better topline, lower provisions and improving asset quality. Centrum and Dolat cut targets on margin concerns, while 360 One raised its target.

Axis Bank reported Q2 FY27 results, with net profit rising from Rs 5,089 crore a year earlier but falling short of the Rs 7,124 crore average estimate. Brokerages issued mixed target prices after the results.

Jefferies kept a Buy rating and named the stock a top pick, citing better topline, lower provisions and improving asset quality. Centrum and Dolat cut targets on margin concerns, while 360 One raised its target.