| Kotak Mahindra Group Related news |
Kotak Mahindra Bank Q2 net profit rises 22% to Rs994 crore
Posted on 25th October 2017 |
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Mumbai: Kotak Mahindra Bank Ltd on Wednesday reported a 22.26% rise in its September quarter net profit, beating analyst estimates, due to higher net interest income and other income. The private lender reported standalone net profit of Rs994.31 crore in the quarter against Rs813.29 crore a year ago. |
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Kotak Mahindra Bank market cap tops Rs 2 lakh crore for first time; in 12th spot just behind IOC
Posted on 9th October 2017 |
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India’s fourth-largest private sector lender Kotak Mahindra Bank’s market capitalisation breached 2 lakh crore for the first time ever on Monday. The bank which was in the twelfth place as per the Friday’s closing price of Rs 1,037.15 on BSE just behind India’s largest company by revenue — Indian Oil Corporation — from its eleventh spot. The stock of Kotak Mahindra Bank soared as much as 1.54% to hit the all-time high of Rs 1,053.1 before closing up 1.34% at Rs 1,051 today. |
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Surprise: Kotak Mahindra Bank emerges 2nd only to HDFC Bank; ICICI Bank pushed to 3rd
Posted on 21st September 2017 |
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Kotak Mahindra Bank (KMB)’s market capitalisation is nudging Rs 2 lakh crore. On Wednesday, the private sector lender’s market cap stood at Rs 1.95 lakh crore while ICICI bank’s m-cap was Rs 1.86 lakh crore. KMB is the country’s second-most valued private lender after HDFC Bank, which commands a market cap of Rs 4.77 lakh crore. Shares of KMB closed Wednesday’s session 0.87 % lower at Rs 1,025.45 on BSE. The stock is up 42.6 % so far in 2017, while the return over one month is 5.58 %. the bank recently raised Rs 5,806 crore through a placement of shares at Rs 936 per share. |
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Kotak Mahindra Asset sees one more rate cut by RBI after GDP miss
Posted on 12th September 2017 |
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The Reserve Bank of India will have scope to cut benchmark interest rates once again as growth in Asia’s third-largest economy slows and consumer-price gains stay within the central bank’s target range, according to Kotak Mahindra Asset Management Co. “You have a confluence of favorable CPI, lower GDP growth and a necessity to keep rates stable with easing bias,” said Lakshmi Iyer, the Mumbai-based chief investment officer for debt at the money manager. “The scope for one rate cut by March 2018 is definitely there.” Calls for further monetary easing have resurfaced after data on Aug. 31 showed that economic growth in the April-June quarter was the slowest since 2014. |
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Kotak Mahindra Bank rated ‘Overweight’ by Morgan Stanley, says valuations not cheap but are sustainable
Posted on 29th July 2017 |
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Q1FY18 earnings were 4% above our estimate, mainly driven by securities and insurance business. At the bank, core PPoP growth was 4% above, helped by higher loan growth and strong fees despite one-time costs. Yet non-core income kept the bottom line below our forecast. Asset quality was strong. OW. Q1FY18: Key positives Continued pick-up in revenue growth: Loan growth accelerated (18% y-o-y vs. 15% y-o-y last quarter), margins were broadly stable (4.5% vs. 4.6% last quarter), and fees were strong (+43% y-o-y). Thus, core PPoP growth was 30% y-o-y despite one-time costs related to 811 product launch (adjusted cost growth would be 12% vs. 16% y-o-y reported). |
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Kotak Mahindra Bank Q1 net profit rises 23% to Rs912.73 crore
Posted on 20th July 2017 |
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Mumbai: Kotak Mahindra Bank Ltd on Thursday said its net profit for the June quarter rose 23% from a year ago due to higher net interest and other income. Net profit for the quarter was Rs912.73 crore, up from Rs741.97 crore a year ago. Six analysts polled by Bloomberg had forecast a net profit of Rs963.40 crore. |
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Kotak Mahindra Bank, Tata Motors DVR shares on Sensex
Posted on 20th May 2017 |
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Private sector lender Kotak Mahindra Bank and Tata Motors’ differential voting right (DVR) shares will be included on BSE's benchmark Sensex from June 19. State-owned GAIL will move out of the Sensex, said Asia Index — an equal venture between S&P Dow Jones Indices LLC and the BSE — in a circular. |
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Kotak bank to raise Rs 5,662 cr via QIP, promoter stake to fall
Posted on 12th May 2017 |
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Private lender Kotak Mahindra Bank is looking to raise about Rs 5,662 crore through sale of 62 million shares through qualified institutional placement (QIP). This share sale is part of stake reduction exercise by its promoter Uday Kotak, the vice-chairman of the bank, as advised by the Reserve Bank of India (RBI). |
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Kotak Mahindra Bank to buy Old Mutual’s 26% equity stake in life insurer JV
Posted on 29th April 2017 |
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Kotak Mahindra Bank (KMB) said on Friday it has entered into an agreement to purchase the entire 26% equity stake held by the UK’s Old Mutual (OM) in Kotak Mahindra Old Mutual Life Insurance for Rs 1,292.7 crore. The transaction puts the enterprise value of the business at Rs 4,972 crore, or 2.72 times the net worth of Kotak Life, which was Rs 1,825 crore as on March 2017. |
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Kotak Mahindra Bank to buy out partner Old Mutual for Rs 1292 crore
Posted on 28th April 2017 |
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MUMBAI: Private sector lender Kotak Mahindra Bank(KMB) today announced that it is buying out British partner Old Mutual's entire 26 per cent stake in its life insurance arm for Rs 1,292.7 crore. "In line with its philosophy to deepen and expand in Indian financial services, KMB has entered into an agreement to purchase the entire 26 per cent equity stake held by Old Mutual in Kotak Mahindra Old Mutual Life Insurance for a consideration of Rs 1,292.7 crore," the bank said in a statement. |
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