“Maintained a 'Neutral' call on Axis Bank with a target price of ₹1,500, implying nearly 13% upside. While Q1 FY27 net profit beat estimates, NII and NIM missed expectations, leading to a 2% cut in FY27 and FY28 earnings. The bank reiterated its through-cycle NIM aspiration of ~3.8%, but business growth remained modest, with corporate lending driving loans and retail growth subdued.”

Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%