Neutral on Kotak Mahindra Bank as Q1 steady: Nomura
Posted on 18th July 2014 |
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We stay ‘neutral’ on Kotak Mahindra Bank (KMB), valuing the stock on a sum-of-the-parts basis with a target price of Rs 920 a share. This implies ~3x March 2016f book for its lending business (bank + NBFC) after factoring in Rs 140 for its flow business (excluding Kotak Prime). The current valuations at ~2.9x March 2015f book after adjusting for Rs 140 of valuations for its flow business are expensive. While asset quality is likely to hold up as the management has been very conservative in growing in the past 18 months, we see valuations stretched on a relative basis with HDFC Bank (Kotak just at a 10% discount on FY16f P/B and ~20% premium on FY16f P/E). |
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Kotak Mahindra Bank consolidated Q1 profit up 11%
Posted on 17th July 2014 |
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At Rs 698 crore, Kotak Mahindra Bank has posted 11 per cent growth in consolidated net profit for the quarter ended June, primarily owing to a rise in net interest income. For the corresponding period last year, the bank's net profit stood at Rs 627 crore. On Wednesday, the Kotak Mahindra Bank stock closed at Rs 884.25 on BSE, up 1.47 per cent. |
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Kotak Mahindra Bank up nearly 2% as RBI allows FIIs to buy shares
Posted on 11th July 2014 |
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NEW DELHI: Kotak Mahindra Bank Ltd -0.22 % rallied as much as 1.7 per cent in trade on Friday, after the Reserve Bank of India (RBI) allowed overseas investors, to buy shares of the private sector lender. At 09:30 a.m.; the stock pared some of the morning gains but was still trading 0.6 per cent higher at Rs 873. It hit a low of Rs 868 and a high of Rs 882.50 in trade today. |
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FIIs need RBI nod to buy further shares in Kotak Mahindra Bank
Posted on 19th June 2012 |
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Mumbai: Foreign shareholding in private sector lender Kotak Mahindra Bank has hit the trigger limit for foreign institutional investors (FIIs), and any further purchases of bank’s share by them will be allowed only after the Reserve Bank of India’s approval. RBI has been monitoring the foreign investment limit under the portfolio investment scheme (PIS) in the bank which has hit the trigger point. |
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Kotak Mahindra Bank hits lifetime high
Posted on 18th June 2014 |
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Kotak Mahindra Bank has moved higher by nearly 4% to Rs 972, also its record high on NSE, after the private sector lender proposes to increase the ceiling limit of overseas investment to 40%. Kotak Mahindra Bank in its notice to shareholders for the upcoming annual general meeting (AGM) on July 16 has sought members’ approval to pass a resolution to this effect. |
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India's Kotak Mahindra Bank gains; Deutsche upgrades to 'buy'
Posted on 11th June 2014 |
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Shares of India's Kotak Mahindra Bank Ltd up as much as 3 percent after Deutsche Bank upgrades the stock to "buy" from "hold" and increases the price target to 1,080 rupees from 770 rupees. High operating leverage in banking, broking and other sectors is driving strong earnings, while investments in its distribution network is resulting in sustained growth, Deutsche said in a note. |
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Uday Kotak is EY's world entrepreneur of the year
Posted on 9th June 2014 |
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Ernst & Young has named Kotak Mahindra Bank Executive Vice-Chairman & Managing Director Uday Kotak its ‘world entrepreneur of the year’ for 2014. For the award, announced in Monaco on Saturday, Kotak was chosen from among 60 finalists from 51 countries, each of whom had been named EY ‘entrepreneur of the year’ in home country.
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Kotak Mahindra Bank reduces promoter stake to comply with RBI norm
Posted on 30th May 2014 |
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Mumbai: Uday Kotak, the founder, vice chairman and managing director of Kotak Mahindra Bank Ltd, on Friday reduced his stake in the lender to 40.3% from 43.58% to comply with a Reserve Bank of India (RBI) direction to do so, the bank said in an emailed statement. |
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RBI asks Kotak Mahindra Bank to reduce promoter stake to 40% by Sep
Posted on 28th May 2014 |
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The Reserve Bank of India has directed Kotak Mahindra Bank to reduce its promoter shareholding to 40 per cent by September 30 this year and then to 30 per cent by December 31, 2016, the private lender informed the stock exchanges. At present, promoter shareholding is 43.58 per cent. In this, 40.09 per cent is owned by individuals and a Hindu Undivided Family; another 3.49 per cent is held by the promoter through corporate bodies. |
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RBI asks Kotak Mahindra Bank to cut promoter stake
Posted on 27th May 2014 |
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Mumbai: Reserve Bank of India (RBI) has asked Kotak Mahindra Bank Ltd to cut its promoter holding to 40% by September 2014 from 43.58%, the private sector lender said in a notice to the stock exchange. Promoter holding has to be further cut to 30% by 31 December, 2016, the bank said. |
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