Long Term Buy Call For Axis Bank

Long Term Buy Call For Axis BankTechnical analyst Anu Jain has maintained 'buy' rating on Axis Bank Limited stock with a target of Rs 1392.

Mr. Singh said that the stock can be purchased with a strict stop loss of Rs 1250.

Today, the stock of the bank opened at Rs 1313.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1608 and a low of Rs 1135 on BSE.

Current EPS & P/E ratio stood at 76.44 and 17.30 respectively.

Idea Cellular and Axis Bank made announcement about a mobile-based financial inclusion scheme, 'Idea MyCash', in Mumbai.

The newly launched scheme will permit transfer of funds on the mobile platform.

Other banking services, like cash withdrawals, balance inquest and deposits, will also be available.

Axis Bank and Idea inked a MoU during December last year under the sphere of financial inclusion.

Mr. Ambrish P. Jain, director (operations), Idea Cellular stated, "Authorised Idea retail outlets will act as customer service points (CSPs). At present, we have 20 authorised retailers each in Dharavi and Allahabad. Any Idea service holder can walk to these retailers to open an account with Axis Bank."

The overall rustic population in the country is 74.25 crore, out of which 18.5 crore inhabitants are unbanked but bankable adults, whereas the overall population in the urban regions stood at 28.61 crore out of which 8.08 crore are unbanked urban poor.