Kotak Mahindra Bank experienced a significant increase in its share price by 4.2% to ₹1,612.30 on the BSE after revealing its impressive Q4 results. The bank's standalone profit for the quarter ending in March 2024 reached ₹4,133.30 crore, showing an 18.22% year-on-year growth. Furthermore, its net interest income (NII) saw a 13% YoY increase to ₹6,909 crore. Throughout Q4FY24, the bank's net interest margin (NIM) also saw an increase to 5.28%, up from 5.22% in Q3FY24.

Assessment of Kotak Mahindra Bank’s Performance by Analysts

Despite the risks posed by RBI restrictions on Kotak Mahindra Bank, experts believe that the stock valuations have become more favorable after the recent correction. JPMorgan upgraded Kotak Mahindra Bank's rating to 'Overweight' due to the supportive valuations after recent RBI actions and the departure of senior management. It is anticipated that the bank will sustain a 16% compound annual growth rate (CAGR) on its balance sheet in the next two years. JPMorgan has set a target price of ₹2,070 per share for Kotak Mahindra Bank.

Assessment from Various Financial Institutions

Emkay Global Financi... You can access the complete article on COINOTAG for more details