Axis Bank - Stock Investment Update

Axis Bank
Cluster: Emerging Star
Recommendation: Buy
Price target: Rs901
Current market price: Rs710

Court rules in favour of Axis Bank
A Ludhiana district court has ruled the foreign exchange (forex) derivative lawsuit involving Axis Bank and Nahar Industrial in favour of the former. The ruling implies that Axis Bank can now proceed with the recovery of dues from Nahar Industrial. The verdict favouring Axis Bank is also a positive development for many other banks that are facing multiple similar lawsuits in courts across India.
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