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Multibagger Stock: This banking stock has increased the wealth of investors by 125 times, made 80 thousand rupees to 1.25 crores

Highlights

The shares of Axis Bank have given tremendous results in the second quarter of the current financial year 2022-23.
Its shares have gained 9 per cent after Axis Bank’s second quarter results were out.
Morgan Stanley expects the bank’s business to accelerate further in the next half.

New Delhi. Private sector Axis Bank shares are performing well in the stock market. The shares of the bank have made investors rich by giving multibagger returns in the long term. It has made its investors millionaires on a small investment of only 80 thousand rupees. It has given tremendous results in the second quarter of the current financial year 2022-23. The bank’s shares reached a record high on October 24.

The shares of Axis Bank are now seeing an upward trend. Market experts believe that the trend of Axis Bank shares is still in an upward direction. By investing in it at the current price, up to 27 percent profit can be earned. With the opening of the market on BSE today, October 27, the shares of Axis Bank are trading at a price of Rs 905.40.

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Raised investors’ capital by 125 times
In the short term, the shares of Axis Bank have given excellent returns and have increased investor capital by 23 per cent so far this month. On the other hand, if seen in the long term, the shares of Axis Bank have given multibagger returns to their investors. The shares of the bank were at a price of Rs 7.21 on October 25, 2002, which has now increased to Rs 905.40. That is, even if an investor had made a small investment of only 80 thousand rupees in Axis Bank, its value would have increased 125 times to Rs.1.25 crore today.

Bumper profit in second quarter
Axis Bank on October 20 announced the results for the second quarter of the current financial year. The net profit of the bank during this period was much higher than expected. It increased by 70 percent on a yearly basis and 29 percent on a quarterly basis to reach 5329.77 crore. At the same time, the net interest income during this period also increased by 31 per cent year-on-year to Rs 10,360.3 crore and net interest margin was 3.39 per cent, which was 0.57 per cent higher on a year-on-year basis.

Morgan Stanley raises target price
America’s global brokerage firm Morgan Stanley has retained the bank’s overweight rating for the shares of Axis Bank. At the same time, its target price has been increased to Rs 1150. Morgan Stanley expects the bank’s business to pick up in the next half. At the same time, 27 percent profit can be earned by investing at its current price.

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Goldman Sachs gave buy rating
American multinational investment bank and financial services company Goldman Sachs has given it a buy rating at a target price of Rs 1053, which is 17 percent higher than the current price. According to Goldman Sachs, there is an upward trend in the business of Axis Bank going forward.

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Still a good time to invest
The second quarter of the current financial year has been very good for the bank. During this period, the bank has made a strong profit, after which its shares have risen by 9 percent after the results came out. After its shares reached record highs, there has been a slight slowdown in the price due to profit booking. At the same time, if market experts are to be believed, then this is a better opportunity to invest in it.

Tags: BSE Sensex, Business news in hindi, Multibagger stock, Share market

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