Axis Bank shares fall 5% post Q3 earnings. Should you buy, sell or hold?

economictimes.indiatimes.com:

Axis Bank shares fell over 5% to the day's low of Rs 1,034.75 on Wednesday notwithstanding its December quarter earnings which were higher than what Street expected. Positive commentary by a couple of top brokerages failed to cheer the investors as selling pressure in top banking counters prevailed.

Want to take exposure to a sector which grows much faster than GDP

Following its Q3 earnings on Tuesday, Morgan Stanley reiterated an 'Overweight' stance while Nuvama maintained a ‘Buy’ view. However, Motilal downgraded the rating to 'Neutral' seeing challenges on the growth front.
The fourth largest private sector lender reported a 4% year-on-year jump in its standalone net profit to Rs 6,071 crore for the said quarter. It was Rs 5,853 crore in the last-year period. The profit was marginally higher than the ET Now Poll estimate of Rs 5,924 crore. Net interest income (NII) in the third quarter rose 9% to Rs 12,532 crore.

Read More: Axis Bank Q3 Results: Net profit rises 4% YoY to Rs 6,071 crore, beats estimate

Here's what brokerages recommended:

Morgan Stanley: Overweight | Target: Rs 1,450

Morgan Stanley remains overweight on Axis Bank for a price target of Rs 1,450. Calling its Q3 numbers «good», the US brokerage trimmed growth estimates on tight liquidity conditions. Both asset quality and core PPOP (pre-provision operating profit) topped estimates. Axis also delivered strong improvement in its franchise, the brokerage noted.

Nuvama: Buy | Target: Rs 1,215

Nuvama has rolled forward the base, yielding a target price of Rs 1,215/2x BV 1Y forward from an earlier target price of Rs Rs 1,130. Its ‘Buy’ recommendation is based mainly on valuation though a near-term earnings vulnerability is not ruled out, the brokerage