Kotak Mahindra Bank shares jump nearly 4% after provisional update
Business
Kotak Mahindra Bank's stock jumped nearly 4% on Tuesday after the bank posted its September 30 provisional update.
Net advances grew 24.7% year over year to ₹5.77 lakh crore, pushing shares up to ₹432.60 in morning trading.
Kotak deposits ₹6.51L/cr, $1.68B abroad
The bank's total deposits climbed 23.2% year over year to ₹6.51 lakh crore, and average net advances also rose sharply.
International branches played a part too, holding $1.68 billion in advances, showing Kotak is growing both at home and abroad.