Buy Kotak Mahindra Bank, target price Rs 2300: Edelweiss

Edelweiss has buy call on Kotak Mahindra Bank with a target price of Rs 2300. The current market price of Kotak Mahindra Bank is Rs 1888. 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 365384.78 Crore).

Kotak Mahindra Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 14176.16 Crore, down -7.60 % from last quarter Total Income of Rs 15341.65 Crore and down -4.44 % from last year same quarter Total Income of Rs 14834.99 Crore. The bank reported net profit after tax of Rs 3402.74 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 25.99 per cent stake in the company as of 31-Dec-2021, while FIIs owned 42.06 per cent, DIIs 15.5 per cent.