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TECHNICAL OUTLOOK

Kotak Bank has been trading in a broader consolidation range i.e. 1650-2000 for over two years and currently seeing recovery after retesting the lower band of that range.

The existence of long term moving average i.e. 200 WEMA around the lower band is added positive.

The chart structure combined with buoyancy in the banking space is pointing toward a steady rise and possibly the end of the consolidation phase also.

FORWARD P/ADJ. BV BAND (x)

TECHNICAL CHART : WEEKLY

INVESTMENT RATIONAL

Kotak Mahindra Bank is the 4th largest financial services company in terms of advances & deposits providing diversified services such as banking and financial services, retail broking, treasury and corporate banking, etc.

Bank is seeing healthy credit demand in the retail segment as well as significant portion of its loan book is secured which places the bank well amongst its peers.

Also, the recent appointment of Mr Ashok Vaswani as MD & CEO will play out well for the bank. In a stable interest rate environment, we expect the banks topline and margin to improve along with its deposit growth which has remained strong as compared to the industry led by the floating rate saving account and term deposits.

Going forward, the bank remains focused on technological advancement to improve customer experience and cost efficiencies as well as expect it to continue maintaining industry best asset quality.

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SEBI Registration number is INZ000174330