Kotak Bank Share Scale New High Of Rs. 1137.5 On Deutsche ‘Buy' Rating

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    In intra-day trade on Monday, the stock of Kotak Mahindra Bank hit a new high of Rs. 1,137.50 on the NSE. Last week the stock ended the trading session at Rs. 1119.2.
    With stronger growth outlook for the private sector lender, Deutsche Bank has revised the stock rating higher to 'buy' from the previous 'hold' with a target price of Rs. 1,208 as against Rs. 1,100 earlier.

    Kotak Bank Share Scale New High Of Rs. 1137.5 On Deutsche ‘Buy' Rating

    The confidence in the bank is shown on grounds of uptick in credit demand, reduced competition and the bank's competitiveness to attract a higher market share without affecting its asset quality and profitability.

    As per a Reuters report some 22 out of 32 brokerages rate the Kotak Bank scrip as 'buy' or even higher.

    Meanwhile majority of PSU banks also traded higher in early trade today.Nifty PSU bank was trading with gains of 1.26% at 1:51 pm at 3057.30.

    Sustained buying by domestic institutional investors (DIIs) amid strong cues from the Asian market, which factored in looming trade war fear as also easing concerns of sharp rise in US interest rates, lifted the market sentiment with the benchmark Nifty and Sensex gaining over 0.5% in trade at 10,390 and 33814.20 respectively.


    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more