Kotak Bank shares slip nearly 2% after Rs 2,134 cr block deal

Kotak Mahindra Bank shares slipped 1.6% to an intraday low of Rs 1,970.10 on BSE on Thursday, as 1.1 crore shares of the company changed hands via a block deal, representing a 0.55% equity stake.

The deal was valued at approximately Rs 2,134 crore and was executed at a price of Rs 1,974 per share. However, the official identities of the parties involved in the transaction are not yet known.

According to earlier reports, a block deal worth Rs 2,066 crore was anticipated.


CNBC Awaaz reported that a shareholder was expected to offload 1.05 crore shares of the private sector lender. The floor price for the deal was set at Rs 1,955 per share, a 2.4% discount to the bank’s previous closing price. The transaction was expected to represent around 0.5% of the bank’s equity, with JP Morgan acting as the broker.

Kotak Mahindra Bank Q1 Earnings

The private lender reported a 7% year-on-year decline in standalone net profit for the June quarter, at Rs 3,282 crore, down from Rs 3,520 crore a year ago.

The dip in net profit comes despite a healthy rise in the bank’s net interest income (NII), which grew 6% YoY to Rs 7,259 crore in Q1FY26 from Rs 6,842 crore in Q1FY25.

Despite the decline in PAT, Kotak Mahindra Bank witnessed robust growth in its lending and deposit base during the quarter.

Average advances for Q1FY26 grew 14% year-on-year, with net advances rising to Rs 4,44,823 crore as of June 30, 2025, compared to Rs 3,89,957 crore a year earlier. On the deposit front, the bank reported a 13% YoY increase in average total deposits, which grew to Rs 4,91,998 crore in Q1FY26 from Rs 4,35,603 crore in the same quarter last year.

Kotak Mahindra Bank shares price target

As per Trendlyne data, the average target price for Kotak Mahindra Bank is Rs 2,318, implying a potential upside of 16% from current levels. The stock has a ‘Buy’ rating from 38 analysts.

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On Wednesday, Kotak Bank shares closed flat at Rs 2,002.1, even as the Sensex slipped 0.21%. The stock is up 13% over the past year and has gained 9% in the last two years. The bank’s market capitalisation currently stands at Rs 3,98,105 crore.

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