Axis Bank shares rally 2% as Morgan Stanley predicts valuation gap to narrow with HDFC Bank, ICICI Bank; s
Axis Bank surged after Morgan Stanley reaffirmed its ‘Overweight rating and raised the target price to ₹1,450, signaling a 25% upside. The broker highlighted that Axis Bank trades at a 30–40% discount to HDFC and ICICI Bank on a price-to-book basis, expecting this gap to narrow as retail deposit growth and loan spreads align with larger peers.
Axis Bank surged after Morgan Stanley reaffirmed its ‘Overweight rating and raised the target price to ₹1,450, signaling a 25% upside. The broker highlighted that Axis Bank trades at a 30–40% discount to HDFC and ICICI Bank on a price-to-book basis, expecting this gap to narrow as retail deposit growth and loan spreads align with larger peers.
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