Macquarie On Axis Bank Post Result

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Maintain target at `790/Share

NIMs Improve; Loan Growth, Cost Ratios Lag Peers
Earnings Beat Of 14% Bs Our Estimates, Driven By Lower Credit Costs
We Remain Concerned On Weak Retail Term Deposit Growth
Funding Franchise Continues To Be Weaker Than The Larger Peers
Focus On Margin In A Tough Qtr

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