Add Kotak Mahindra Bank, target price Rs 2023: ICICI Securities

ICICI Securities has add call on Kotak Mahindra Bank with a target price of Rs 2023. The current market price of Kotak Mahindra Bank is Rs 1808.5. Time period given by analyst is one year when Kotak Mahindra Bank Ltd. price can reach defined target.

Kotak Mahindra Bank Ltd., incorporated in the year 1985, is a banking company (having a market cap of Rs 359221.20 Crore).

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 12799.59 Crore, down -20.87 % from last quarter Total Income of Rs 16175.87 Crore and up 3.87 % from last year same quarter Total Income of Rs 12323.15 Crore. The bank reported net profit after tax of Rs 1806.09 Crore in latest quarter.


Investment Rationale
Lower deposit cost, capital buffer, and digital capabilities facilitate competitive pricing, but may moderate NIMs a tad. The brokerage maintains ADD on KMB with the target price at Rs 2,023.

Promoter/FII Holdings
Promoters held 26.1 per cent stake in the company as of Sept 30, 2020, while FIIs held 42.2 per cent, DIIs 15.3 per cent and public and others 16.5 per cent.