Buy Kotak Mahindra Bank, target price Rs 2550: ICICI Direct

ICICI Direct has buy call on Kotak Mahindra Bank with a target price of Rs 2550. The current market price of Kotak Mahindra Bank is Rs 1774.5.

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 351541.96 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 30-09-2021, the company reported a Consolidated Total Income of Rs 15341.65 Crore, up 19.86 % from last quarter Total Income of Rs 12799.59 Crore and up 12.88 % from last year same quarter Total Income of Rs 13591.41 Crore. The bank reported net profit after tax of Rs 2988.74 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 26.0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 42.58 per cent, DIIs 15.29 per cent.