Indian banking giants Axis and SBI had a tough day in the market. Read More>>
Axis Bank and SBI were downgraded by UBS, leading to a nearly 1% drop in Nifty Bank index on October 13.
UBS lowers ratings for Axis Bank and SBI, citing rising credit losses, equalizing risk-reward in Indian banking sector.
UBS downgrades Axis Bank, foreseeing peak margins and potential contraction in RoA by FY25.
Axis Bank fell by 2.40% and SBI fell by 1.68% at the end of the trading session on 13th Oct’23.