Buy Kotak Mahindra Bank, target price Rs 1378: ICICI Direct
Kotak Mahindra Bank Ltd., incorporated in the year 1985, is a banking company (having a market cap of Rs 268395.13 Crore).
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Promoters held 26.1 per cent stake in the company as of June 30, 2020, while FIIs held 42.1 per cent, DIIs 15.3 per cent and public and others 16.5 per cent.
ICICI Direct has given a buy rating to Kotak Mahindra Bank with a target price of Rs 1378. The share price moved down by 0.49 per cent from its previous close of Rs 1354.25. The stock’s last traded price is Rs 1347.55. Kotak Mahindra Bank Ltd., incorporated in the year 1985, is a banking company (having a market cap of Rs 268395.13 Crore).
Financials The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 6292.55 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 2065.28 Crore (.00% of total assets). For the quarter ended 30-06-2020, the company reported a Consolidated Interest Income of Rs 5773.27 Crore, down 6.87 % from last quarter Interest Income of Rs 6198.95 Crore and down 7.20 % from last year same quarter Interest Income of Rs 6221.51 Crore. The bank reported net profit after tax of Rs 1840.44 Crore in latest quarter.
Investment Rationale Price sustaining above 50 day EMA & short term trend line breakout Promoter/FII Holdings Promoters held 26.1 per cent stake in the company as of June 30, 2020, while FIIs held 42.1 per cent, DIIs 15.3 per cent and public and others 16.5 per cent.
