Nifty Extends Losses, Sensex Falls Over 100 Pts As Asia Slips Further

Global research firm Nomura has maintained its buy call on Axis Bank, but cut its target price to 620 from Rs 640.

The reduction in target price implies a downside of around 3 percent.

The firm believes PPOP/asset is readjusting downwards to a new normal, the brokerage believes.

It expects normalised RoEs of 15-15.5 percent for the bank.

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