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India economy grows 5.4% in July-Sept quarter India's economy slowed much more than expected in July-September, expanding by only 5.4% year-on-year, data showed on Friday, weighed down by weak urban consumption following a rise in food prices. A Reuters poll had predicted a 6.5% expansion in gross domestic product for the quarter ending Sept. 30. COMMENTARY ADITI NAYAR, ECONOMIST AT ICRA, GURUGRAM In light of the recent spike in CPI inflation, we anticipate a status quo from the RBI's monetary policy meeting next week...
India economy grows 5.4% in July-Sept quarter
India economy grows 5.4% in July-Sept quarter
Source: Reuters
2024-11-29 05:12:30 pm
Indian banks` microfinance loan stress to persist after new, informal regulation, bankers say  Indian lenders are bracing for another wave of defaults in their microfinance portfolios in the second half of the fiscal year after the banking regulator recently further tightened rules for such loans, four bankers said. The default rates in microfinance loans -- collateral-free loans to those with annual income of up to 300,000 rupees ($3,556) -- had already jumped, as evidenced in the July-September results of IndusInd Bank, Kotak Mahindra Bank, RBL Bank and Bandhan Bank. The ...
Indian banks` microfinance loan stress to persist after new, informal regulation, bankers say
Indian banks` microfinance loan stress to persist after new, informal regulation, bankers say
Source: Reuters
2024-11-08 11:39:33 am
Buy Kotak Mahindra Bank Ltd For Target Rs.2150 By Yes Securities Ltd KMB still somewhat away from an optimal business model Our view – Slippages rise and loan growth slows, while dependence on ActivMoney continues Net Interest Margin – Margin declined sequentially but mainly due to loan mix change and not rise in cost of funds: NIM was at 4.91%, down -11bps QoQ and -31bps YoY. 2Q was the first quarter when the full impact of the RBI embargo was felt. As a consequence, the share of secured assets has gone up in the portfolio. The cost of funds se...
Buy Kotak Mahindra Bank Ltd For Target Rs.2150 By Yes Securities Ltd
Buy Kotak Mahindra Bank Ltd For Target Rs.2150 By Yes Securities Ltd
Source: Yes Securities Ltd
2024-10-30 04:31:05 pm
Buy Kotak Mahindra Bank Ltd For Target Rs. 1,950 By Motilal Oswal Financial Services Ltd Operating performance inline; Card delinquencies drive an increase in slippage run-rate NIMs decline 11bp QoQ; CASA showing signs of stability * Kotak Mahindra Bank (KMB) posted a standalone PAT of ~INR33.4b (5% miss, 5% YoY growth). Consol. PAT stood at INR50.4b (13% YoY growth) in 2QFY25. * NII grew 11.5% YoY to INR70.2b (inline). NIM moderated 11bp QoQ to 4.91%. Other income grew 16% YoY to INR26.8b (11% miss). Total revenue thus grew 12.7% YoY. * Advances rose 14.7% YoY/2.5% ...
Buy Kotak Mahindra Bank Ltd For Target Rs. 1,950 By Motilal Oswal Financial Services Ltd
Buy Kotak Mahindra Bank Ltd For Target Rs. 1,950 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-10-30 03:26:57 pm
Diwali Picks 2024 : Crackers By Prabhudas Lilladher Capital Coal India Ltd CMP: 487 | Entry Range: On declines till 470 Target (TGT): 545/580/610 | Stop Loss (SL): 450 * After making the highs of 543 zones, stock has corrected over 10% in recent times and been consolidating. On daily chart basis, time and again the stock has shown strong reversals from 475 levels. * The stock has seen trend turning upside on weekly basis – up by 4%, with short covering visible aggressively. Chain also reflects good support built-up by PE writers around ...
Diwali Picks 2024 : Crackers By Prabhudas Lilladher Capital
Diwali Picks 2024 : Crackers By Prabhudas Lilladher Capital
Source: Prabhudas Lilladher Capital
2024-10-29 10:48:24 am
Reduce Kotak Mahindra Bank Ltd For Target Rs. 1,700 By Emkay Global Financial Services Kotak Mahindra Bank (KMB) continued to report margin contraction (11bps QoQ to 4.9%) due to lower loan asset yields which was due to slower growth in unsecured loans (including full impact of credit card suspension). This, coupled with higher LLP and lower other income led to a 4% miss on PAT at Rs33bn/2.2% RoA. Gross credit growth was healthy at 18% YoY, but sell-off via IBPC for BS management led to lower net credit growth at 15% YoY. Stress in unsecured loans including MFI and Cards has in...
Reduce Kotak Mahindra Bank Ltd For Target Rs. 1,700 By Emkay Global Financial Services
Reduce Kotak Mahindra Bank Ltd For Target Rs. 1,700 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-10-22 10:48:41 am
India Kotak Mahindra Bank`s quarterly profit misses estimates on higher provisions  India's Kotak Mahindra Bank on Saturday reported a lower-than-expected 5% increase in July-September profit on higher loan provisions while lending margins shrank. The private lender's standalone net profit, excluding subsidiaries, rose to 33.44 billion rupees ($397.8 million) in the second financial quarter from 31.91 billion rupees last year. That was below the average analyst estimate of 34.17 billion rupees, according to data compiled by LSEG. Provisions and conting...
India Kotak Mahindra Bank`s quarterly profit misses estimates on higher provisions
India Kotak Mahindra Bank`s quarterly profit misses estimates on higher provisions
Source: Reuters
2024-10-20 12:58:58 pm
Kotak Mahindra Bank`s net profit up 4.8 pc to Rs 3,344 crore in Q2 Kotak Mahindra Bank on Saturday reported net profit of Rs 3,344 crore in the July-September period (Q2 FY25), up 5 per cent from Rs 3,191 crore in the same quarter last fiscal.   Consolidated profit after tax (PAT) for Q2 FY25 was Rs 5,044 crore, up 13 per cent (year-on-year) from Rs 4,461 crore in the same quarter last year, the bank said in its regulatory filing. The bank reported net interest income for the quarter to Rs 7,020 crore, from Rs 6,297 crore in Q2 FY24, up 11 per cen...
Kotak Mahindra Bank`s net profit up 4.8 pc to Rs 3,344 crore in Q2
Kotak Mahindra Bank`s net profit up 4.8 pc to Rs 3,344 crore in Q2
Source: IANS
2024-10-19 02:51:10 pm
Stan Chart sells India personal loan business to Kotak Mahindra Bank Kotak Mahindra Bank will buy Standard Chartered Bank's personal loan business in India, the Indian lender said on Friday, leaving the U.K.-based company to focus on its wealth and investment banking business in Asia's third-largest economy. StanChart's personal loan book had an outstanding of 41 billion rupees ($488 million) as of Sept. 30, Kotak Mahindra Bank said. India's personal loan market has become intensely competitive amid strong consumer demand. Last November, ...
Stan Chart sells India personal loan business to Kotak Mahindra Bank
Stan Chart sells India personal loan business to Kotak Mahindra Bank
Source: Reuters
2024-10-18 05:54:26 pm
Motilal Oswal Private Wealth Strengthens its Leadership Team, Ropes in Akash Hariani as Joint Managing Director Motilal Oswal Private Wealth is pleased to announce the appointment of Mr. Akash Hariani to the position of Joint Managing Director. With over 25 years of experience in private wealth management, Akash will play a pivotal role in the growth strategy of Motilal Oswal Private Wealth, both in India and abroad. He has a proven track record of driving business growth for UHNIs and family offices, consistently placing himself at the forefront of the industry.   Akash joins Motilal Oswal ...
Motilal Oswal Private Wealth Strengthens its Leadership Team, Ropes in Akash Hariani as Joint Managing Director
Motilal Oswal Private Wealth Strengthens its Leadership Team, Ropes in Akash Hariani as Joint Managing Director
Source: Motilal Oswal Wealth Management
2024-10-03 05:41:09 pm
India's Yes Bank appoints veteran banker Sumit Bali to head its retail business, sources say Indian private lender Yes Bank has appointed veteran banker Sumit Bali to head its retail business and collections, three sources directly familiar with the matter said on Friday. Bali will join Yes Bank from Aug. 26 and report to executive director Rajan Pental, one of the sources said. The banker, who headed retail lending for India's third largest private lender Axis Bank, had quit in June. Friday is his last day at Axis Bank. The sources did not wish to be identified as they ...
India's Yes Bank appoints veteran banker Sumit Bali to head its retail business, sources say
India's Yes Bank appoints veteran banker Sumit Bali to head its retail business, sources say
Source: Reuters
2024-08-16 02:02:18 pm
Reduce Kotak Mahindra Bank Ltd For Target Rs.1,700 By Emkay Global Financial Services Kotak Mahindra Bank (KMB) reported a sharp decline in margins (vs stable for HDFCB), which coupled with higher LLP, led to a 4% miss on core PAT at Rs35bn. However, KMB reported higher PAT of Rs62.5bn, adjusted for net oneoff gain from the stake sale in Kotak General Insurance (KGI) of Rs27.3bn. Despite the embargo on new card issuance, rising unsecured loan stress, and struggle on deposits with CASA shrinking to a low of 43%, the bank accelerated credit growth to 19% YoY. We believe, it need...
Reduce Kotak Mahindra Bank Ltd For Target Rs.1,700 By Emkay Global Financial Services
Reduce Kotak Mahindra Bank Ltd For Target Rs.1,700 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-08-07 05:58:06 pm
Add Kotak Mahindra Bank Ltd For Target Rs.2,075 By Yes Securities Normalisation of business model to take time Our view – SA traction and digital ban 2 key issues to grapple with Net Interest Margin - NIM declined sequentially, impacted by challenges in CASA and slowdown in unsecured lending: NIM was at 5.02%, down -26bps QoQ and -55bps YoY. Management seemed to concede that the margin 2 quarters back, which was 5.22%, was not sustainable and now the bank is 20 bps below that. However, deposits have largely repriced, and rates have also stabiliz...
Add Kotak Mahindra Bank Ltd For Target Rs.2,075 By Yes Securities
Add Kotak Mahindra Bank Ltd For Target Rs.2,075 By Yes Securities
Source: Yes Securities Ltd
2024-08-07 05:05:31 pm
India's top private lenders see farm loan defaults rising amid weak rural economy Top Indian private lenders are seeing more farmers and rural borrowers delay loan repayments as unpredictable weather impacts output and rising agricultural costs stretch their incomes further, according to quarterly earnings reports and a dozen bankers. The largest five private banks have reported greater bad loan additions in the June quarter, mostly driven by rising dues in agriculture and microfinance loans, which are popular in rural areas. Microfinance loan disbursal slowed in Apr...
India's top private lenders see farm loan defaults rising amid weak rural economy
India's top private lenders see farm loan defaults rising amid weak rural economy
Source: Reuters
2024-07-31 04:52:01 pm
Neutral Kotak Mahindra Bank Ltd For Target Rs. 1,800By Motilal Oswal Financial Services In-line adjusted earnings; asset quality ratios broadly stable Margin declines sharply by 26bp QoQ * Kotak Mahindra Bank (KMB) posted a standalone PAT of ~INR62.5b in 1QFY25, aided by an exceptional gain of INR27.3b (net of tax) from divestment of its 70% stake in Kotak Mahindra General Insurance to Zurich Insurance. Adjusted PAT was in line at INR35.2b (2% YoY growth). * NII grew 9.8% YoY to INR68.4b (4% miss) as NIMs moderated 26bp QoQ to 5.02%. Other income grew 9.2% YoY to INR29.3b...
Neutral Kotak Mahindra Bank Ltd For Target Rs. 1,800By Motilal Oswal Financial Services
Neutral Kotak Mahindra Bank Ltd For Target Rs. 1,800By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd Ltd
2024-07-29 04:27:57 pm
India's Federal Bank hits record high as cenbank clears KVS Manian as new CEO Shares of India's Federal Bank rose as much as 5.5% to a record high on Tuesday, a day after the central bank approved the appointment of veteran banker KVS Manian as the lender's new CEO, quashing concerns around management succession. Manian resigned from Kotak Mahindra Bank in April, after nearly three decades at the bank, saying he had aspirations elsewhere in the industry, and local media has said he was being considered for the CEO role at Federal Bank. The Reserve Bank of...
India's Federal Bank hits record high as cenbank clears KVS Manian as new CEO
India's Federal Bank hits record high as cenbank clears KVS Manian as new CEO
Source: Reuters
2024-07-23 10:13:50 am
Sensex trades lower on weak global cues Indian equity indices opened in the red on Monday following weak global cues from asian peers.  At 9:45 a.m., Sensex was at 80,501, down 89 points or 0.11 per cent and Nifty was down 26 points or 0.12 per cent, at 24,504. Buying is seen in the smallcap and midcap stocks. The Nifty smallcap 100 index is up 62 points or 0.34 per cent at 18,460 and the Nifty midcap 100 index is 124 points or 0.22 per cent at 56,032. UltraTech Cement, Infosys, NTPC, Nestle, Power Grid, HDFC Bank, Po...
Sensex trades lower on weak global cues
Sensex trades lower on weak global cues
Source: IANS
2024-07-22 11:18:01 am
Sensex crosses 80,000 for first time, banking stocks lead rally Indian equity indices opened at record high on Wednesday following a rally in the banking stocks. Sensex and Nifty made a new all-time high of 80,039 and 24,292 respectively.  The Broader market remains positive. On the National Stock Exchange (NSE), out of the total, 1573 were in the green and 628 in the red. At 9:47 a.m., Sensex was at 80,008, up 567 points and 0.71 per cent and Nifty was at 24,290, up 164 points or 0.68 per cent. Banking stocks are leading the rally. Nifty Ba...
Sensex crosses 80,000 for first time, banking stocks lead rally
Sensex crosses 80,000 for first time, banking stocks lead rally
Source: IANS
2024-07-03 10:30:00 am
Kotak Mahindra Bank`s shares fall nearly 2.5 per cent after Hindenburg`s claim The shares of Kotak Mahindra Bank fell nearly 2.5 per cent on Tuesday after Hindenburg Research, in its reply to markets regulator SEBI's show-cause notice, said Kotak Mahindra group created and oversaw the offshore fund structure used by the investor partner of Hindenburg to short Adani stocks – a claim that has been denied by the group.   Kotak Mahindra Bank’s share fell 2.49 per cent to close at Rs 1,763.15 apiece. In response to the SEBI’s show-cause notic...
Kotak Mahindra Bank`s shares fall nearly 2.5 per cent after Hindenburg`s claim
Kotak Mahindra Bank`s shares fall nearly 2.5 per cent after Hindenburg`s claim
Source: IANS
2024-07-03 10:17:06 am
REDUCE Kotak Mahindra Bank Ltd. For Target Rs.1,625 - Emkay Global Financial Services Strong earnings beat, but CASA continues to retreat Kotak Mahindra Bank (Kotak) reported a huge 28% beat on PAT (which stood at Rs41bn), mainly on treasury gains/debt syndication fees, reversal of AIF provisions (Rs1.6bn), and lower tax rate @21%. Its CASA ratio has slipped by 1,500bps in the last 2Y to 45.5%; this, coupled with the recent RBI embargo on digital customer sourcing (incl. Kotak 811) and slower branch expansion vs peers, could further hurt the bank amid the raging war for ret...
REDUCE Kotak Mahindra Bank Ltd. For Target Rs.1,625 - Emkay Global Financial Services
REDUCE Kotak Mahindra Bank Ltd. For Target Rs.1,625 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-06-27 12:25:38 pm
Sensex trades flat on negative global cues   India equity indices opened flat on Thursday following negative cues from global markets.  At 9:45 a.m., Sensex was up 20 points at 78,694 and Nifty was up 9 points at 23,877. Midcap and smallcap stocks are outperforming compared to largecaps. The Nifty Midcap 100 index is at 55,429, up 183 points or 0.33 per cent, and the Nifty Smallcap 100 index is at 18,334, up 35 points or 0.20 per cent. The market trend remains positive. On NSE, out of total 1278 shares are in gre...
Sensex trades flat on negative global cues
Sensex trades flat on negative global cues
Source: IANS
2024-06-27 11:39:38 am
India's Kotak Mahindra Bank to add up to 200 branches in FY25, official says India's Kotak Mahindra Bank will increase its pace of opening new branches and add about 175 to 200 branches in the financial year 2024-25, a senior official at the bank said, months after the central bank barred the private lender from sourcing new customers digitally. In April, the Reserve Bank of India (RBI) stopped Kotak from adding new customers via its online and mobile banking channels, and from issuing new credit cards, due to information technology-related deficiencies. &qu...
India's Kotak Mahindra Bank to add up to 200 branches in FY25, official says
India's Kotak Mahindra Bank to add up to 200 branches in FY25, official says
Source: Reuters
2024-06-24 12:55:49 pm
Sensex trades higher on positive global cues  Indian frontline indices opened in green on Thursday following positive global cues. At 9:50 am, Sensex was up 375 points, or 0.50 per cent, at 74,724. Nifty was up 105 points or 0.47 per cent, at 22,725. Overall market trends remain positive. Out of the total stocks, 1949 are trading in green and 209 in red. Midcap and smallcap stocks are trading with positive bias. The Nifty midcap 100 index is up 1,022 points or 1.99 per cent, at 52,285 and the Nifty smallcap 100 index is up...
Sensex trades higher on positive global cues
Sensex trades higher on positive global cues
Source: IANS
2024-06-06 10:44:30 am
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd Kotak Mahindra Bank (KMB) has shown a decline in performance over the last three years (3Y return: -7.4, 1Y return: -13.3%) compared to the returns of Bank Nifty (3Y return: 37.4%, 1Y return: 11.5%) and Nifty (3Y return: 43.6%, 1Y return: 21.6%). This underperformance can be attributed to several factors, including the stepping down of Mr. Uday Kotak, slower business growth relative to Kotak’s usual standards, and supervisory actions by the RBI. However, the bank has maintained strong a...
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Source: LKP securities Ltd
2024-06-03 06:02:49 pm
KFintech appoints ex-Kotak Mahindra Bank veteran C. Jayaram as Independent Director Hyderabad-based KFin Technologies Limited on Saturday announced it has appointed former Kotak Mahindra Bank joint managing director, Chengalath Jayaram, as an Independent Director.  Jayaram had a 26-year tenure at the Kotak Group, where he played a key role in establishing and growing multiple business verticals. Jayaram’s term as a Non-Executive Director of Kotak Mahindra Bank ended on April 30. "His extensive experience and proven track record in the financial servi...
KFintech appoints ex-Kotak Mahindra Bank veteran C. Jayaram as Independent Director
KFintech appoints ex-Kotak Mahindra Bank veteran C. Jayaram as Independent Director
Source: IANS
2024-05-26 09:02:47 am
Add Kotak Mahindra Bank Ltd For Target Rs.1,950 - Emkay Global Kotak Mahindra Bank (KMB) has undertaken a major top-management rejig (w.e.f 01-Mar-24), mainly elevating KVS Manian as JMD (replacing ex-JMD Dipak Gupta) and Shanti Ekambaram as DMD (possibly a notch below the JMD), subject to RBI approval. Notably, there was news-flow suggesting that Mr Manian could be one of the candidates for the MD & CEO post (due to be vacated in Sep-24) at Federal Bank, but KMB’s move should potentially eliminate any such risk. Separately, retiring group CFO ...
Add Kotak Mahindra Bank Ltd For Target Rs.1,950 - Emkay Global
Add Kotak Mahindra Bank Ltd For Target Rs.1,950 - Emkay Global
Source: Emkay Global
2024-05-24 12:30:08 pm
Sensex slips 139 points on negative global cues  Indian frontline indices Sensex and Nifty opened in the red, following negative global cues from US and Asian peers. At 9:45 a.m., Sensex was trading 139 points or 0.19 per cent lower at 73,865 points and Nifty was down 25 points or 0.11 per cent, at 22,476 points. Nifty Midcap 100 was down 84 points or 0.16 per cent, at 51,784 points and Nifty Small 100 was down 35 points or 0.21 per cent, at 16,975 points. In early trade, the India Volatility Index (India VIX) was up 7.21 per...
Sensex slips 139 points on negative global cues
Sensex slips 139 points on negative global cues
Source: IANS
2024-05-21 11:58:35 am
Kotak Mahindra Bank zooms on reporting 17% rise in Q4 consolidated net profit Kotak Mahindra Bank is currently trading at Rs. 1600.00, up by 52.75 points or 3.41% from its previous closing of Rs. 1547.25 on the BSE. The scrip opened at Rs. 1600.00 and has touched a high and low of Rs. 1600.00 and Rs. 1600.00 respectively. So far 15948 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2063.00 on 31-May-2023 and a 52 week low of Rs. 1544.15 on 03-May-2024. Last one week high and low of the sc...
Kotak Mahindra Bank zooms on reporting 17% rise in Q4 consolidated net profit
Kotak Mahindra Bank zooms on reporting 17% rise in Q4 consolidated net profit
Source: Accord Fintech
2024-05-06 09:45:20 am
India`s Kotak Mahindra Bank beats estimates with 26% rise in Q4 net profit India's Kotak Mahindra Bank reported a better-than-expected 26% increase in fourth-quarter net profit on Saturday, buoyed by higher core lending income and healthy loan growth. The private lender's standalone net profit, excluding subsidiaries, rose to 41.33 billion rupees ($495.71 million) in the January-March quarter, from 34.96 billion rupees in the same period last year. That was sharply higher than analysts' forecast of 33.28 billion rupees, according to LSEG data. Kotak'...
India`s Kotak Mahindra Bank beats estimates with 26% rise in Q4 net profit
India`s Kotak Mahindra Bank beats estimates with 26% rise in Q4 net profit
Source: Reuters
2024-05-04 03:38:03 pm
Sensex plunges 900 points in broad-based selling  BSE Sensex plunged 900 points on Friday, amid a broad-based selloff. Sensex is trading at 73,671 points went down by 939 points. Sensex is now below the 74k mark. 27 out of 30 Sensex stocks were trading in the red. Most of the sectoral indices were in the red. The technology stocks and realty index are down by more than 1 per cent. Only the SME IPO index is zooming, up by 2.3 per cent in a very weak market. As many as 62 per cent of the stocks on BSE are declining while only...
Sensex plunges 900 points in broad-based selling
Sensex plunges 900 points in broad-based selling
Source: IANS
2024-05-03 02:01:14 pm
Neutral Kotak Mahindra Bank Ltd For Target Rs. 2,000 - Motilal Oswal Financial Services AIF provisions, treasury loss contribute to slight earnings miss Margins stable QoQ * Kotak Mahindra Bank (KMB) reported standalone PAT growth of 7.6% YoY to INR30b (11% miss) due to AIF provisions (INR1.9b) and treasury loss. Consolidated PAT stood at ~INR42.7b (7% YoY growth). * NII grew 16% YoY to INR65.5b (in line; up 4.1% QoQ). NIMs stood stable QoQ at 5.22%. Opex grew 14% YoY to INR42.8b, thereby, resulting in a 19% YoY growth in PPoP at INR45.7b (5% miss). * Advances grew 1...
Neutral Kotak Mahindra Bank Ltd For Target Rs. 2,000 - Motilal Oswal Financial Services
Neutral Kotak Mahindra Bank Ltd For Target Rs. 2,000 - Motilal Oswal Financial Services
Source: motilal oswal financial services Ltd
2024-05-01 09:04:39 am
India's IndusInd Bank beats Q4 profit view on strong loan growth India's IndusInd Bank narrowly beat fourth-quarter profit estimates on Thursday, aided by healthy loan growth, but the lending margin dropped slightly both on a sequential and year-on-year basis. The private lender posted a net profit of 23.47 billion rupees ($281.7 million) for the quarter ended March 31, compared with 20.41 billion rupees a year earlier. Analysts, on average, expected a profit of 23.24 billion rupees, as per LSEG data. Indian banks have continued to focus on st...
India's IndusInd Bank beats Q4 profit view on strong loan growth
India's IndusInd Bank beats Q4 profit view on strong loan growth
Source: Reuters
2024-04-26 09:51:27 am
Kotak Mahindra Bank tumbles after RBI bars Bank from onboarding new customers online, issuing credit cards Kotak Mahindra Bank is currently trading at Rs. 1643.45, down by 199.60 points or 10.83% from its previous closing of Rs. 1843.05 on the BSE. The scrip opened at Rs. 1675.00 and has touched a high and low of Rs. 1689.45 and Rs. 1620.00 respectively. So far 1971151 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2063.00 on 31-May-2023 and a 52 week low of Rs. 1620.00 on 25-Apr-2024. Last one week high and low of ...
Kotak Mahindra Bank tumbles after RBI bars Bank from onboarding new customers online, issuing credit cards
Kotak Mahindra Bank tumbles after RBI bars Bank from onboarding new customers online, issuing credit cards
Source: Accord Fintech
2024-04-25 12:45:52 pm
FIIs sold equity worth Rs 25,853 crore in last seven days While foreign institutional investors (FIIs) sold heavily in the past few days, the selling has been countered by domestic funds. During the last seven days, FIIs sold equity worth a massive Rs 25,853 crores but the domestic institutional investors (DII) buying overwhelmed this FII selling and the market continued its upward momentum, says V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services. The overarching trend of this market is its bullishness despite negative t...
FIIs sold equity worth Rs 25,853 crore in last seven days
FIIs sold equity worth Rs 25,853 crore in last seven days
Source: IANS
2024-04-25 12:00:48 pm
RBI crackdown triggers crash in Kotak Bank shares  Shares of Kotak Mahindra Bank crashed by as much as 12 per cent in morning trade on Thursday to Rs 1,620 on BSE as investors dumped the stock following the RBI crackdown on the lender. The RBI had, on Wednesday evening, barred Kotak Mahindra Bank, with immediate effect, from taking on new customers and issuing fresh credit cards. Infina Finance, one of the promoter group entities of Kotak Mahindra Bank had donated electoral bonds worth Rs 60 crore to the BJP. However, the RBI has ...
RBI crackdown triggers crash in Kotak Bank shares
RBI crackdown triggers crash in Kotak Bank shares
Source: IANS
2024-04-25 11:26:56 am
India's central bank bars Kotak Mahindra Bank from taking on new customers digitally India's central bank said on Wednesday it had barred Kotak Mahindra Bank from taking on new customers via its online and mobile banking channels, and from issuing new credit cards, due to information technology-related deficiencies. The Reserve Bank of India (RBI) said it had taken action against the country's fourth largest private lender after its examination of the bank's IT systems in 2022 and 2023 raised concerns and the bank failed to address them adequately. "For...
India's central bank bars Kotak Mahindra Bank from taking on new customers digitally
India's central bank bars Kotak Mahindra Bank from taking on new customers digitally
Source: Reuters
2024-04-24 05:04:01 pm
Biofuels firm GPS Renewables raises $50 mn from private, public sector banks Full-stack biofuels company GPS Renewables on Tuesday said that it raised $50 million (about Rs 411.5 crore) in debt financing from leading private and public sector banks, as well as prominent NBFCs (Non-Banking Financial Companies). Punjab National Bank, HDFC, Yes Bank, HSBC Bank, Kotak Mahindra Bank, ICICI Bank, Citibank, Vivriti Capital, Northern Arc, Spark Capital, Tata Capital and SIDBI were the institutions that participated in the current financing round. "To further accele...
Biofuels firm GPS Renewables raises $50 mn from private, public sector banks
Biofuels firm GPS Renewables raises $50 mn from private, public sector banks
Source: IANS
2024-04-16 04:16:20 pm
Valuation gap between mid-tier and frontline banks has narrowed With outperformance by other private and mid-tier PSU banks, the valuation gap between mid-tier and frontline banks has narrowed, Elara Securities said. Frontline banks – HDFC, ICICI and Kotak Mahindra among private banks – and State Bank of India among PSU banks underperformed. Lack of significant asset quality challenges and better growth may ensure sustained rerating for PSU banks based on earnings stability, Elara Securities said. In the past month, the Bank Nifty has...
Valuation gap between mid-tier and frontline banks has narrowed
Valuation gap between mid-tier and frontline banks has narrowed
Source: IANS
2024-04-04 04:08:44 pm
Blackstone eyes $300 million IPO of India diamond certification firm Blackstone is exploring raising $300 million via an India IPO of the International Gemological Institute (IGI), less than a year after it acquired the company, amid booming stock markets in the region, three people familiar with the matter said. Blackstone acquired IGI for $570 million in May 2023 from Chinese conglomerate Fosun and the business's founding Lorie family. IGI has most of its business in India and describes itself as the world's largest independent lab for testing and...
Blackstone eyes $300 million IPO of India diamond certification firm
Blackstone eyes $300 million IPO of India diamond certification firm
Source: Reuters
2024-04-03 09:21:45 am
India`s Embassy REIT plans to raise up to $400 million, hires banks, sources say  India's largest real estate investment trust, Embassy Office Parks, plans to raise up to $400 million from investors, two sources with direct knowledge said, as it looks to meet demand for office space from global and local giants. Embassy, which manages 45 million square feet (4.18 million square meters) of office parks, has clients including Google, Cisco and IBM who are bolstering their presence in the world's fifth biggest economy. The property group has appointed inve...
India`s Embassy REIT plans to raise up to $400 million, hires banks, sources say
India`s Embassy REIT plans to raise up to $400 million, hires banks, sources say
Source: Reuters
2024-04-02 02:43:05 pm
Private sector banks lead Sensex lower BSE Sensex is trading at 73,857 points, down by 157 points. Private sector banks are down in trade with ICICI Bank down more than 1 per cent, Kotak Mahindra is also down almost 1 per cent. Since the global construct is slightly negative as evidenced by the rising dollar and rising US bond yields, the FPIs may be tempted to sell, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. FPI selling is not having any major impact on the market since DIIs, HNIs and r...
Private sector banks lead Sensex lower
Private sector banks lead Sensex lower
Source: IANS
2024-04-02 12:40:35 pm
Add Kotak Mahindra Bank Ltd. For Target Rs. 2160 By Yes Securities RoA below ICICI’s but multiple still higher Our view – Slowdown in loan growth and elevated opex are talking points Credit subs and IBPC/BRDS keep net advances growth at 16% despite pure advances growth of 19% YoY: Credit subs have de-grown -1% YoY whereas, IBPC/BRDS (which reduce net advances) have grown materially. Management stated that the bank is capable of growing at 1.75-2x of nominal GDP when it intends to grow. Net interest margin was maintained on sequential bas...
Add Kotak Mahindra Bank Ltd. For Target Rs. 2160 By Yes Securities
Add Kotak Mahindra Bank Ltd. For Target Rs. 2160 By Yes Securities
Source: Yes Securities Ltd.
2024-03-29 11:17:16 am
Neutral Kotak Mahindra Bank Ltd. For Target Rs.2,000 By Motilal Oswal financial services Margins stable QoQ -      Kotak Mahindra Bank (KMB) reported standalone PAT growth of 7.6% YoY to INR30b (11% miss) due to AIF provisions (INR1.9b) and treasury loss. Consolidated PAT stood at ~INR42.7b (7% YoY growth). -      NII grew 16% YoY to INR65.5b (in line; up 4.1% QoQ). NIMs stood stable QoQ at 5.22%. Opex grew 14% YoY to INR42.8b, thereby, resulting in a 19% YoY growth in PPoP at INR45.7b (5% ...
Neutral Kotak Mahindra Bank Ltd. For Target Rs.2,000 By Motilal Oswal financial services
Neutral Kotak Mahindra Bank Ltd. For Target Rs.2,000 By Motilal Oswal financial services
Source: Motilal Oswal Financial Services Ltd
2024-03-27 10:37:01 am
Buy Kotak Mahindra Bank Ltd. For Target Rs. 2,300 By JM Financial Services Stable quarter disrupted by a one-time provision impact In 3QFY24, Kotak Mahindra Bank (Kotak) reported healthy NII growth of +16% YoY (4.1% QoQ) but higher than expected provisions (due to AIF exposure) resulted in a PAT miss (INR 30.1bn, +8% YoY, -6% QoQ) vs JMFe of INR 33.4bn (var -10%). Kotak successfully averted NIM compression for the quarter (5.22%, flat QoQ) as the bank utilised liquidity buffers and increased the share of high yielding unsecured loans (11.6% vs 11.0% QoQ). We beli...
Buy Kotak Mahindra Bank Ltd. For Target Rs. 2,300 By JM Financial Services
Buy Kotak Mahindra Bank Ltd. For Target Rs. 2,300 By JM Financial Services
Source: JM Financial Services
2024-03-16 02:21:44 pm
Kotak Mahindra Bank gains on the BSE Kotak Mahindra Bank is currently trading at Rs. 1730.70, up by 10.35 points or 0.60% from its previous closing of Rs. 1720.35 on the BSE. The scrip opened at Rs. 1721.05 and has touched a high and low of Rs. 1740.00 and Rs. 1721.05 respectively. So far 30928 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2063.00 on 31-May-2023 and a 52 week low of Rs. 1644.20 on 14-Mar-2023. Last one week high and low of the sc...
Kotak Mahindra Bank gains on the BSE
Kotak Mahindra Bank gains on the BSE
Source: Accord Fintech
2024-03-13 01:50:54 pm
Pidilite Industries leads the gainers of group A on BSE Pidilite Industries is currently trading at Rs. 2765.55, up by 66.65 points or 2.47% from its previous closing of Rs. 2698.90 on the BSE. The scrip opened at Rs. 2681.25 and has touched a high and low of Rs. 2767.00 and Rs. 2681.25 respectively. So far 5897 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2804.00 on 16-Jan-2024 and a 52 week low of Rs. 2275.00 on 10-Mar-2023. Last one week high and low of the scr...
Pidilite Industries leads the gainers of group A on BSE
Pidilite Industries leads the gainers of group A on BSE
Source: Accord Fintech
2024-03-06 12:29:12 pm
Angel One joins hands with Seasoned team of Wealth Managers to lead its Tech-Led-Omnichannel Wealth Management Business A group of seasoned wealth managers, collaborate with Angel One, one of India’s leading fintech players, as Co-Founders to lead its private wealth management foray. Srikanth Subramanian joins as Co-Founder & CEO of Angel One Wealth Limited; he comes with more than twenty years of experience in investment and wealth management business. He joins from Kotak Cherry, the digital wealth management arm run by Kotak Mahindra Bank. Other Co-Founders include Shobhit Mathur and Dharmendra Jai...
Angel One joins hands with Seasoned team of Wealth Managers to lead its Tech-Led-Omnichannel Wealth Management Business
Angel One joins hands with Seasoned team of Wealth Managers to lead its Tech-Led-Omnichannel Wealth Management Business
Source: PR Agency
2024-03-02 10:29:54 am
India`s Kotak Mahindra Bank names new senior executives India's Kotak Mahindra Bank on Monday named KVS Manian as joint managing director and Shanti Ekambaram as deputy managing director, effective March 1. Both Manian and Ekambaram have been with Kotak for more than two decades and were last serving as whole-time directors. Manian will oversee wholesale bank, commercial bank, private banking, asset reconstruction division and wholesale credit, while Ekambaram will drive treasury and global markets businesses in addition to her existing ...
India`s Kotak Mahindra Bank names new senior executives
India`s Kotak Mahindra Bank names new senior executives
Source: Reuters
2024-02-20 09:19:45 am