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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.
Retail conglomerate Future Group, which owns fashion chains like Big Bazaar, Brand Factory and Central, will be among the top 10 global fashion companies selling about 35 crore garments by FY2019, group CEO Kishore Biyani said today.
The company, which has built an integrated warehouse with a capacity of over 30 crore garments in Nagpur, is betting big on the growing demand from fashion conscious customers and consumers' interest for lifestyle and fashion.
Biyani said by next financial year the fashion units alone will clock total revenue of USD 3-3.5 billion (about Rs 20,000 crore). He, however, denied commenting on expected profit.
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