| Kotak Mahindra Group Related news |
‘Neutral’ rating on Kotak Mahindra Bank: Street beater
Posted on 11th May 2015 |
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Strong beat in Q4: Q4FY15 profit after tax of Rs 9.1 bn (+38% year-on-year) was better than expected with a beat on both lending and capital market businesses. For the lending business, not only is the revenue momentum picking up but also some of the fundamental metrics like CASA (current account savings account) and fee intensity performance is better than expected, and with buoyant capital markets we are finally seeing capital market profitability improving. We have nothing much to complain about; our only constraint remains rich valuations (3.4x FY17 book). Thus we maintain our Neutral rating. |
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Kotak Mahindra Bank trades firm on listing of new shares
Posted on 27th April 2015 |
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Shares of Kotak Mahindra Bank are trading flat at Rs 1,373, recovering 1.5% from its early morning low on the National Stock Exchange (NSE), after new shares issued by the private sector lender on amalgamation of ING Vysya Bank were permitted for trade from today. “The new securities of 139.21 million equity shares of Rs 5 each issued pursuant to the scheme of amalgamation of ING Vysya Bank with Kotak Mahindra Bank are listed and permitted for trading on the exchange with effect from Monday, April 27, 2015,” Kotak Mahindra Bank said in a notification to the BSE. |
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Kotak Mahindra proposal before FIPB on April 30
Posted on 22nd April 2015 |
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The Foreign Investment Promotion Board (FIPB), headed by Finance Secretary Rajiv Mehrishi, will meet on April 30 to discuss 41 proposals. These including one from Kotak Mahindra Bank (KMB) to raise its foreign investment ceiling to 55 per cent. At present, foreign investors together hold 48.5 per cent in it, pursuant to its merger with ING Vysya Bank. Foreign investors can acquire up to 49 per cent stake in Indian lenders through the automatic route; beyond this, FIPB permission is required. |
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Kotak Mahindra Bank, ING Vysya Bank hit new high ahead of merger
Posted on 15th April 2015 |
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Shares of Kotak Mahindra Bank and ING Vysya Bank have touched their respective lifetime highs today ahead of record date fixed for the merger. At 1321 hours, shares of Kotak Mahindra Bank were up 1% at Rs 1,459 on the National Stock Exchange (NSE). It opened at Rs 1,447 and hit a record high of Rs 1,475 in early morning trade. |
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Kotak Mahindra-ING Vysya merger gets RBI approval
Posted on 1st April 2015 |
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The merger deal between Kotak Mahindra Bank and ING Vysya Bank has received the Reserve Bank's approval, which would create the country's fourth largest private sector lender. "The scheme of amalgamation (of Kotak Mahindra Bank and ING Vysya Bank) shall come into effect from April 1, 2015," Kotak Mahindra Bank said in a statement quoting RBI approval. It got RBI approval for the merger yesterday. |
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Banking shares rally after RBI cuts repo rate
Posted on 4th March 2015 |
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Banking shares are in demand with the Bank Nifty surging 581 points to 20,542 in early morning deal on NSE after the Reserve Bank of India (RBI) cut the repo rate by 25 bps to 7.5% today. Punjab National Bank, Bank of Baroda, Kotak Mahindra Bank, Canara Bank, Bank of India, Axis Bank, ICICI Bank, HDFC Bank and State Bank of India are up between 2-3%. |
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Kotak Mahindra Bank, ING Vysya Bank extends gain on CCI nod for merger
Posted on 24th February 2015 |
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Shares of Kotak Mahindra Bank and ING Vysya Bank gained for the second straight session on the BSE, after the Competition Commission of India (CCI) has approved the proposed merger of ING Vysya Bank with the Kotak Mahindra Bank. Kotak Mahindra Bank has rallied 3% to Rs 1,354, while ING Vysya Bank up nearly 2% at Rs 941 on BSE. Both these stocks had gained nearly 1% each on Monday. |
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Kotak-ING Vysya merger deal gets CCI nod
Posted on 21st February 2015 |
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The proposed Rs 15,000-crore merger deal between Kotak Mahindra Bank and ING Vysya Bank has got the Competition Commission of India (CCI)'s approval. According to the fair trade regulator, the merger, which would create the country's fourth largest private sector lender, is “not likely to have an appreciable adverse effect on competition in India”. |
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Uday Kotak expects RBI to cut rates by 50 basis points
Posted on 9th February 2015 |
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Mumbai: Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank Ltd, expects the Reserve Bank of India (RBI) to reduce rates by an additional 50 basis points by the end of 2015. One basis point is one-hundredth of a percentage point. Changing expectations about the timing of an increase in US interest rates could have an impact on the central bank’s ability to cut rates, Kotak said while speaking at the Kotak Institutional Equities investor conference, Millenium Makers of India, in Mumbai on Monday. |
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Kotak Mahindra Bank's Q3 net profit rises 21%
Posted on 21st January 2015 |
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Kotak Mahindra Bank said on Tuesday that its consolidated profit after tax for the October-December 2014 quarter increased 21 per cent year-on-year to Rs 717 crore, on the back of growth in earnings of its banking, securities and investments businesses. On a consolidated basis, the bank's advances grew 21 per cent to Rs 86,058 crore. Consolidated net interest margin was at 4.7 per cent during the quarter under review, down from 4.9 per cent in the year-ago period. |
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