Hold Kotak Mahindra Bank; Target Rs 1586: Prabhudas Lilladher

Hold Kotak Mahindra Bank; Target Rs 1586: Prabhudas Lilladher

Prabhudas Lilladher’s Research Report 

Kotak Mahindra Bank

Prabhudas Lilladher recommended hold rating on Kotak Mahindra Bank(KMB IN) with a target of Rs 1586. The stock KMB’s loan earnings of Rs 17.2bn was beyond expectations due to lower tax rate and decent beat in NII & lower opex. Loan growth further has come off to 15% YoY due to slower from corporate and auto loans. 

Key Highlights:

  • Robust retail deposits accretion especially CASA leads to industry-leading CASA mix of 53% 
  • NIIM further improves by 12 bps to 4.61% on strong tailwinds from the lowered cost of deposits

Disclaimer: The perspectives and investment tips are given in this section are the expert’s own and not that of the website or its management. We encourage clients to check with certified experts before taking any position in the stocks/shares mentioned.

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