Kotak Mahindra Bank shares rise over 2% after strong Q2
Business
Kotak Mahindra Bank's stock climbed more than 2% on Monday, standing out as one of the top performers even while most of the market was down.
The boost came after the bank posted impressive second-quarter numbers, with shares touching ₹440 during the day.
Kotak Mahindra Bank profit up 29.5%
The bank's net profit shot up 29.5% year over year to ₹4,212 crore, and its loan book kept growing steadily.
Big names like JPMorgan and Bernstein all kept high target prices: JPMorgan sees over 14% more upside.
While Bernstein noted margins are tighter than rivals,' they flagged sharp net interest margin compression versus four large private sector banks.