Axis Bank shares fall 3% as West Asia provisions surge despite analyst buys

94% of analysts said buy, yet credit costs jumped

Axis Bank shares slid about 3% even as 94% of analysts kept a buy rating. Strong loan growth and improved asset quality were offset by a sharp rise in provisions tied to the West Asia conflict, pushing up credit costs. Management chose a cautious path to strengthen buffers, which weighed on near-term performance despite the positive longer-term outlook.