Large Cap Banking Stock Gets Buy Call, Shares Likely To Soar: Prabhudas Lilladher

Prabhudas Lilladher has given buy rating to large cap banking stock, Kotak Mahindra Bank Ltd as trend likely to be further strengthened to expect targets of 2000-2040 in the coming days. The current market price of the stock is Rs 1868 apiece with a marginal intraday surge of 0.11%. If you buy Kotak Mahindra Bank now, you can expect to receive 9% upside in the coming days. Check key details below:

1. Kotak Mahindra Bank Stock Performance

The current market price of Kotak Mahindra is Rs 1868 apiece. The stock's 52-week high is quoted at Rs 1997 apiece and 52-week low is Rs 1630 apiece. The company has a market capitalisation of Rs 3,70,949.65 crore.

2. Kotak Mahindra Bank Return

The stock has given 84% return in last 5-years and 10% return in last 3-years. The stock has jumped 8% in last 6-months and declined over 1% in last 1-month.

3. Kotak Mahindra Bank Valuation

According to Prabhudas Lilladher, the trend is expected to be strengthened to expect upside potential of Rs 2000 to Rs 2040 apiece in the days ahead. The analyst suggests a target price of Rs 2040 with a stop loss at Rs 1800 apiece.

4. About Kotak Mahindra Bank

In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd. Effective April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra Bank Ltd.

The Bank has four Strategic Business Units - Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India.

Disclaimer

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.