Buy Kotak Mahindra Bank, target price Rs 1860: Edelweiss

Edelweiss has buy call on Kotak Mahindra Bank with a target price of Rs 1860. The current market price of Kotak Mahindra Bank is Rs 1754.75. 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 347881.52 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
Stock has created a demand zone. It has given a breakout above its previous swing high.

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.