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Axis Bank’s Q1 results, to be released on July 24, may show 11% NII growth, 12% net profit increase, and 15% loan growth. NIMs are likely to drop by 6-8 bps. Analysts foresee Rs 4,500 crore PSL slippages and cost pressures affecting NII growth and ratios. March quarter profit was Rs 7,130 crore.

Promoters held 51.46 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 11.2 per cent and 5.16 per cent, respectively.

A total of 11,794 shares changed hands on the counter till 01:39PM (IST)

I clearly believe that this budget focuses a lot on the real economy and that is something which probably yet is getting kind of ignored in context of some of the tax hikes.

The stock traded at a P/E multiple of 67.29, while the price-to-book value ratio stood at 11.55.

While taxation of tobacco is primarily under the purview of the GST Council, the central government also levies NCCD on cigarettes, subject to changes in the Budget. Of late, the taxation regime has been stable aiding both volume growth for the legal cigarette industry and tax collections, BofA said.

Vijay Kedia, MD of Kedia Securities, discussed the 12.5% LTCG tax, SEBI’s speculation curbing, and hike in STT . He finds these changes reasonable and expects market corrections. The initial reaction settled quickly, suggesting market acceptance. Short-term holdings minimize the impact, while Budget clarity and ongoing corrections are expected. He says these were bound to come.

The Relative Strength Index of the stock stood at 50.82 on Tuesday.

As of 30-Jun-2024, promoters held 44.78 per cent stake in the company, while FIIs held 27.41 per cent and domestic institutional investors had 10.36 per cent.

In the Budget for FY24-25, the Modi Government 3.0 intends to focus on nine key areas: agriculture, employment, human resource development and social justice, manufacturing and services, urban development, energy security, infrastructure, innovation, research and development, and next-generation reforms.