Share price
₹1,310.7 latest close · −2.3% over the last 90 sessions
₹1,310.7 month-end · +2.4% over 12 months
₹1,310.7 month-end · +22.0% over 3 years
₹1,310.7 month-end · +81.4% since Jan '19
52-week range ₹1150.30 to ₹1418.30 · 1-year volatility 25.0%
Was the rally earned?
- The share price was roughly flat over 1 year (+2%).
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 103 points, but investors now pay less per rupee of profit (P/E 30.6x to 14.7x), which took 81 points back.
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 193 points, but investors now pay less per rupee of profit (P/E 27.9x to 14.7x), which took 93 points back.
- The share count barely moved.
What do "pts" mean?
"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.
Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.
Net profit is trailing twelve months as reported with a 60-day lag.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-63.2% (2019-06 peak to 2020-03 low, recovered 2021-10)
-28.0% (2024-07 peak to 2025-01 low, recovered 2026-01)
-26.0% (2021-10 peak to 2022-06 low, recovered 2022-10)
Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).
Is it expensive against its own past and its peers?
Usual range 1.7x to 2.8x since 2019-01.
25% above the Finance median.
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How to read this
Shaded band: 10th to 90th percentile of the company's own P/B history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).
Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.
Where does it rank among Finance peers?
Each cell is the company's percentile rank among its Finance peers (banks and financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Where it ranks today
- ROE (approx.)65th▼ 15 pts vs a year ago
- EPS growth16th▼ 28 pts vs a year ago
- P/B ↓40th▼ 5 pts vs a year ago
- 12M momentum65thflat vs a year ago
- FII + DII98thflat vs a year ago
Rank history
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Finance sector page Watch it move against Finance in the Observatory
What is the price implying?
At normalised P/E (five-year average earnings) of 19.3x, a holder earning 12%/yr needs earnings to grow about 14.8%/yr for 10 years, then trade at 15x.
Over time
Implied growth by month (solid) and delivered growth (dashed).
Change the assumptions
| Exit P/E / return | 11% | 12% | 13% |
|---|---|---|---|
| 12x | 16.3% | 17.3% | 18.4% |
| 15x | 13.7% | 14.8% | 15.8% |
| 20x | 10.5% | 11.5% | 12.5% |
Drag a slider to test other assumptions
Implied: 14.8%/yrLooking back
- Jan 2020Price implied 22%/yr; EPS has since grown 23%/yr (7.0 yrs)
- Jan 2021Price implied 26%/yr; EPS has since grown 53%/yr (6.0 yrs)
- Jan 2022Price implied 30%/yr; EPS has since grown 29%/yr (5.0 yrs)
Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.
What prices imply across Finance The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹1310.70
- P/E
- 14.7x
- Market Cap
- ₹4.08L cr
- Revenue (TTM)
- ₹1.36L cr
- P/S
- 3.0x
- P/B
- 1.9x
- ROE
- 13.0%
- Debt / Equity
- 1.3x
- Promoter Holding
- 7.9%
- 12M Momentum
- 2.4%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Tax rate25%Within range
Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Tap a check to see how it is measured
Cash conversion and receivable days are not meaningful for banks and NBFCs, so only the other-income and tax-rate checks are shown.
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Over 2 years, FIIs trimmed 14.8 pts; DIIs added 13.9 pts.
- The number of shareholders rose from 7.9 lakh to 8.4 lakh (+7%) between Dec 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
What happened next to similar setups
- We found 50 past situations where a bank, NBFC or insurer looked like AXIS BANK LIMITED today on valuation, return on capital, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −24% to +24% vs the market, against −2% for all financial companies in the same months.
- The gap against the base rate (+4.3%, 80% range −1.8% to +15.5%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months
50 past situations · 50 companies · 29 months · 2020–2025
The closest matches
| Company | When | P/E | P/B | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SBIN Finance |
Nov 2022 | 15x | 1.8x | +31% | −2% | −18% |
| KOTAKBANK Finance |
Aug 2025 | 18x | 2.5x | +10% | −14% | −1% |
| INDUSINDBK Finance |
Mar 2024 | 16x | 2.2x | +45% | −8% | −60% |
| ICICIBANK Finance |
Jun 2021 | 24x | 2.9x | +80% | −6% | +12% |
| SHRIRAMFIN Finance |
Jun 2024 | 15x | 2.5x | +68% | −3% | +19% |
Show the other 3 matches
| Company | When | P/E | P/B | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| HDFCBANK Finance |
Sep 2025 | 21x | 2.8x | +10% | −6% | −26% |
| MUTHOOTFIN Finance |
Jun 2024 | 17x | 3.0x | +45% | −2% | +43% |
| FEDERALBNK Finance |
Jul 2025 | 12x | 1.4x | +1% | −7% | +68% |
How reliable is this?
Matched on P/E, P/B, ROE, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/E. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What changed?
30 events since Mar '20
- JunPeer rankSlipped to the 2nd quartile of Finance on ROE (from the top quartile).
- JanPriceRegained the 2024-07 peak, 12 months after the low.
- DecResultsYear-on-year EPS growth turned negative.
- JulPriceVolume reached 8.0x its 50-day median on 2025-07-18; price -5.2% that day.
- JunPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the top quartile).
- JanPriceFell 28% from the Jul 2024 peak to the Jan 2025 low.
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the top quartile of Finance on ROE (from the 3rd quartile).
Show 22 earlier events
- JunDividendDividend payout cut from 3% to 1% of profit.
- AprPriceVolume reached 5.1x its 50-day median on 2024-04-25; price +6.0% that day.
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the 3rd quartile of Finance on ROE (from the 2nd quartile).
- OctPriceRegained the 2021-10 peak, 4 months after the low.
- OctPriceVolume reached 6.4x its 50-day median on 2022-10-21; price +9.0% that day.
- JunResultsRevenue (TTM) reached a new high of ₹68,846 cr.
- JunPriceFell 26% from the Oct 2021 peak to the Jun 2022 low.
- JunPeer rankMoved into the 2nd quartile of Finance on ROE (from the 3rd quartile).
- JunDividendStarted paying a dividend (payout 2% of profit).
- OctPriceRegained the 2019-06 peak, 19 months after the low.
- OctPriceVolume reached 6.2x its 50-day median on 2021-10-27; price -6.5% that day.
- JulSharesShare count is up 8.7% over 12 months.
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the 3rd quartile of Finance on ROE (from the bottom quartile).
- JanPeer rankSlipped to the bottom quartile of Finance on ROE (from the 3rd quartile).
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the bottom quartile of Finance on EPS growth (from the top quartile).
- JunDividendDividend payout cut from 5% to 0% of profit.
- JunSharesShare count is up 9.7% over 12 months.
- AprPriceVolume reached 6.0x its 50-day median on 2020-04-08; price +0.6% that day.
- MarPriceFell 63% from the Jun 2019 peak to the Mar 2020 low.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Monthly history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | Debt / Equity |
|---|---|---|---|---|
| 2026-11 | 14.7x | ₹1.36L cr | 13.0% | 1.3x |
| 2026-10 | 13.6x | ₹1.36L cr | 13.0% | 1.3x |
| 2026-09 | 13.7x | ₹1.36L cr | 13.0% | 1.3x |
| 2026-08 | 15.3x | ₹1.33L cr | 13.0% | 1.3x |
| 2026-07 | 14.5x | ₹1.33L cr | 13.0% | 1.3x |
| 2026-06 | 15.8x | ₹1.33L cr | 13.0% | 1.3x |
| 2026-05 | 15.2x | ₹1.31L cr | 16.0% | 1.2x |
| 2026-04 | 15.0x | ₹1.31L cr | 16.0% | 1.2x |
| 2026-03 | 13.7x | ₹1.31L cr | 16.0% | 1.2x |
| 2026-02 | 16.5x | ₹1.29L cr | 16.0% | 1.2x |
| 2026-01 | 16.3x | ₹1.29L cr | 16.0% | 1.2x |
| 2025-12 | 15.1x | ₹1.29L cr | 16.0% | 1.2x |
| 2025-11 | 14.2x | ₹1.29L cr | 16.0% | 1.2x |
| 2025-10 | 13.7x | ₹1.29L cr | 16.0% | 1.2x |
| 2025-09 | 12.6x | ₹1.29L cr | 16.0% | 1.2x |
| 2025-08 | 11.5x | ₹1.27L cr | 16.0% | 1.2x |
| 2025-07 | 11.8x | ₹1.27L cr | 16.0% | 1.2x |
| 2025-06 | 13.2x | ₹1.27L cr | 16.0% | 1.2x |
| 2025-05 | 13.1x | ₹1.25L cr | 18.0% | 1.5x |
| 2025-04 | 13.0x | ₹1.25L cr | 18.0% | 1.5x |
| 2025-03 | 12.1x | ₹1.25L cr | 18.0% | 1.5x |
| 2025-02 | 11.2x | ₹1.22L cr | 18.0% | 1.5x |
| 2025-01 | 10.9x | ₹1.22L cr | 18.0% | 1.5x |
| 2024-12 | 11.8x | ₹1.22L cr | 18.0% | 1.5x |
| 2024-11 | 13.1x | ₹1.18L cr | 18.0% | 1.5x |
| 2024-10 | 13.4x | ₹1.18L cr | 18.0% | 1.5x |
| 2024-09 | 14.2x | ₹1.18L cr | 18.0% | 1.5x |
| 2024-08 | 13.7x | ₹1.13L cr | 18.0% | 1.5x |
| 2024-07 | 13.6x | ₹1.13L cr | 18.0% | 1.5x |
| 2024-06 | 14.8x | ₹1.13L cr | 18.0% | 1.5x |
| 2024-05 | 33.1x | ₹87448 cr | 9.0% | 1.6x |
| 2024-04 | 33.2x | ₹87448 cr | 9.0% | 1.6x |
| 2024-03 | 29.8x | ₹87448 cr | 9.0% | 1.6x |
| 2024-02 | 30.6x | ₹87448 cr | 9.0% | 1.6x |
| 2024-01 | 30.4x | ₹87448 cr | 9.0% | 1.6x |
| 2023-12 | 31.4x | ₹87448 cr | 9.0% | 1.6x |
| 2023-11 | 30.6x | ₹87448 cr | 9.0% | 1.6x |
| 2023-10 | 27.9x | ₹87448 cr | 9.0% | 1.6x |
| 2023-09 | 29.5x | ₹87448 cr | 9.0% | 1.6x |
| 2023-08 | 27.7x | ₹87448 cr | 9.0% | 1.6x |
| 2023-07 | 27.1x | ₹87448 cr | 9.0% | 1.6x |
| 2023-06 | 28.1x | ₹87448 cr | 9.0% | 1.6x |
| 2023-05 | 19.9x | ₹68846 cr | 13.0% | 1.7x |
| 2023-04 | 18.7x | ₹68846 cr | 13.0% | 1.7x |
| 2023-03 | 18.7x | ₹68846 cr | 13.0% | 1.7x |
| 2023-02 | 18.4x | ₹68846 cr | 13.0% | 1.7x |
| 2023-01 | 19.0x | ₹68846 cr | 13.0% | 1.7x |
| 2022-12 | 20.3x | ₹68846 cr | 13.0% | 1.7x |
| 2022-11 | 19.6x | ₹68846 cr | 13.0% | 1.7x |
| 2022-10 | 19.7x | ₹68846 cr | 13.0% | 1.7x |
| 2022-09 | 15.9x | ₹68846 cr | 13.0% | 1.7x |
| 2022-08 | 16.3x | ₹68846 cr | 13.0% | 1.7x |
| 2022-07 | 15.8x | ₹68846 cr | 13.0% | 1.7x |
| 2022-06 | 13.8x | ₹68846 cr | 13.0% | 1.7x |
| 2022-05 | 29.2x | ₹64397 cr | 8.0% | 1.5x |
| 2022-04 | 31.0x | ₹64397 cr | 8.0% | 1.5x |
| 2022-03 | 32.4x | ₹64397 cr | 8.0% | 1.5x |
| 2022-02 | 31.6x | ₹64397 cr | 8.0% | 1.5x |
| 2022-01 | 32.9x | ₹64397 cr | 8.0% | 1.5x |
| 2021-12 | 28.9x | ₹64397 cr | 8.0% | 1.5x |
| 2021-11 | 27.9x | ₹64397 cr | 8.0% | 1.5x |
| 2021-10 | 31.6x | ₹64397 cr | 8.0% | 1.5x |
| 2021-09 | 32.6x | ₹64397 cr | 8.0% | 1.5x |
| 2021-08 | 33.5x | ₹64397 cr | 8.0% | 1.5x |
| 2021-07 | 30.2x | ₹64397 cr | 8.0% | 1.5x |
| 2021-06 | 31.9x | ₹64397 cr | 8.0% | 1.5x |
| 2021-05 | 114.3x | ₹63716 cr | 2.0% | 1.8x |
| 2021-04 | 108.8x | ₹63716 cr | 2.0% | 1.8x |
| 2021-03 | 106.2x | ₹63716 cr | 2.0% | 1.8x |
| 2021-02 | 110.3x | ₹63716 cr | 2.0% | 1.8x |
| 2021-01 | 100.9x | ₹63716 cr | 2.0% | 1.8x |
| 2020-12 | 94.4x | ₹63716 cr | 2.0% | 1.8x |
| 2020-11 | 91.6x | ₹63716 cr | 2.0% | 1.8x |
| 2020-10 | 75.0x | ₹63716 cr | 2.0% | 1.8x |
| 2020-09 | 64.6x | ₹63716 cr | 2.0% | 1.8x |
| 2020-08 | 75.6x | ₹63716 cr | 2.0% | 1.8x |
| 2020-07 | 65.7x | ₹63716 cr | 2.0% | 1.8x |
| 2020-06 | 61.9x | ₹63716 cr | 2.0% | 1.8x |
| 2020-05 | 19.7x | ₹56044 cr | 8.0% | 2.4x |
| 2020-04 | 22.7x | ₹56044 cr | 8.0% | 2.4x |
| 2020-03 | 19.3x | ₹56044 cr | 8.0% | 2.4x |
| 2020-02 | 35.6x | ₹56044 cr | 8.0% | 2.4x |
| 2020-01 | 37.2x | ₹56044 cr | 8.0% | 2.4x |
| 2019-12 | 38.5x | ₹56044 cr | 8.0% | 2.4x |
| 2019-11 | 37.7x | ₹56044 cr | 8.0% | 2.4x |
| 2019-10 | 37.6x | ₹56044 cr | 8.0% | 2.4x |
| 2019-09 | 35.0x | ₹56044 cr | 8.0% | 2.4x |
| 2019-08 | 33.9x | ₹56044 cr | 8.0% | 2.4x |
| 2019-07 | 34.4x | ₹56044 cr | 8.0% | 2.4x |
| 2019-06 | 41.3x | ₹56044 cr | 8.0% | 2.4x |
| 2019-05 | 454.1x | ₹46614 cr | 1.0% | 2.4x |
| 2019-04 | 430.8x | ₹46614 cr | 1.0% | 2.4x |
| 2019-03 | 436.7x | ₹46614 cr | 1.0% | 2.4x |
| 2019-02 | 398.6x | ₹46614 cr | 1.0% | 2.4x |
| 2019-01 | 406.0x | ₹46614 cr | 1.0% | 2.4x |