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Kotak Mahindra Bank Shares Drop Sharply On Fall In Profits


Shares in Kotak Mahindra Bank dropped sharply after the company saw its net profits decline. The shares of the bank were last trading with a fall of almost 4 per cent on the National Stock Exchange at Rs 686.

Kotak Mahindra Bank Shares Drop Sharply On Fall In Profits
Kotak Mahindra Bank: Quotes, News
BSE 1499.80BSE Quote37.8 (-2.52%)
NSE 1498.90NSE Quote39.35 (-2.63%)
The bank saw its net profits fall by almost 55 per cent to Rs 190 crore. Its non-performing assets for the quarter also saw a jump.

The bank it maybe recalled had merged with ING Vysya Bank and these were consolidated numbers. The sharp decline in net profits took analysts by surprise many of whom have a sell call on the shares.

Read more about: kotak mahindra bank
Story first published: Friday, July 31, 2015, 11:02 [IST]
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