Buy Kotak Mahindra Bank, target price Rs 1798: ICICI Direct

ICICI Direct has buy call on Kotak Mahindra Bank with a target price of Rs 1798. The current market price of Kotak Mahindra Bank Ltd. is Rs 1780.15 Time period given by analyst is Intra Day 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 352390.20 Crore).

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 16175.87 Crore, up 9.04 % from last quarter Total Income of Rs 14834.99 Crore and up 33.85 % from last year same quarter Total Income of Rs 12084.71 Crore. The bank reported net profit after tax of Rs 2589.32 Crore in latest quarter.


Investment Rationale
Price rebounding taking support at the 200 days EMA, signaling resumption of the up move

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.