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Kotak Mahindra Bank's Q1 performance boosts shares
Kotak Mahindra Bank's stock climbed over 4% on Tuesday after the bank posted a strong June quarter.
Loans grew 14% from last year and deposits were up nearly 15%, even though the CASA ratio—a key measure of low-cost deposits—dipped slightly from 43% to 41%.
Morgan Stanley, Jefferies bullish on Kotak
Big names like Morgan Stanley and Jefferies are still bullish on Kotak, highlighting its solid loan growth and stable deposit base despite economic headwinds.
Jefferies noted that average deposits held steady, helping total deposits rise by a healthy 15% year-on-year—another sign the bank's financials are in good shape.