New Delhi, Nov. 20 -- Shares of private sector lender Axis Bank hit their record high of Rs.1,286 on Thursday, November 20, after brokerage UBS Securities upgraded the lender's rating from 'Neutral' to 'Buy'. It also revised its 12-month price target to Rs.1,500 from Rs.1,300, reflecting a favourable medium-term outlook and an upside potential of 16.6%.

The private bank stock has risen almost 38% from its 52-week low of Rs.934, hit in January 2025. In the last one year, the private sector lender has added 13% to its value. Meanwhile, it has advanced 7% in the past six months, 19% in 3 months and 5% in a month.

UBS said Axis Bank is showing improving trends across credit costs, asset quality, and loan growth as the operating environment ...