Technical analyst Nitin Murarka of SMC Global has maintained 'buy' rating on Axis Bank Limited stock with a target of Rs 1520.

According to analyst, the investors can buy the stock at Rs 1480.

The stock of the company, on November 16, closed at Rs 1466.80 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1608 and a low of Rs 935 on BSE.

Current EPS & P/E ratio stood at 70.88 and 19.78 respectively.

Axis Bank stated that it will get hold of Enam Securities (P) for Rs 20.67 billion.

As part of the agreement, Enam stock holders will get 5.7 Axis Bank's shares for every one share held.

After the closure of the deal, Enam will posses 3.3% equity stake in Axis Bank.

Axis Bank has decided to launch 100 arms in India, under its Rural Banking Strategy (RBS), besides its normal network growth plans.

Kicking off its one such division in Palladam, the initial in Tamil Nadu and second in the country, Mr. S. K. Mitra, president, Agri-business and Rural Bank of Axis Bank, stated as part of Bank's plan, being a total solutions bank, the primary division was opened in Bhogpur in Punjab during the last month.

Axis Bank has decided to launch 100 such banking institutions across the country, comprising 25 more in Tamil Nadu.

Some divisions in Coimbatore, Erode, Namakkal, Salem and Tiruchirapalli regions in Tamil Nadu would be kicked off this financial year.