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Kotak Mahindra Bank Q4 profit jumps 25% YoY; should you buy, sell or hold?
Citi has kept the neutral call on the stock with a target at Rs 1,460 per share
The brokerages have a mixed rating on Kotak Mahindra Bank after it reported an impressive jump in profits. Jefferies downgraded the stock to Underperform, while CLSA maintained 'buy' rating on the company.
The private lender reported Q4 standalone net profit at Rs 1,407.8 crore against Rs 1,124 crore reported in the same quarter last fiscal.
The net interest income (NII) of the bank rose 18 percent at Rs 3,048 crore against Rs 2,580 crore in Q4FY18.
Gross NPA stood at 2.14 percent versus 2.07 percent, while net NPA was at 0.75 percent versus 0.71 percent, QoQ.
Here what brokerages recommended on Kotak Mahindra Bank post Q4 results:
Morgan Stanley | Rating: Overweight | Target: Rs 1,600
The research house maintained an Overweight call with a target of Rs 1,600 per share. The company's consolidated PAT was 5 percent below estimate, which is mainly driven by lower bank earnings, it said.
The key positive was strong RoEV/higher margin in insurance.
Macquarie | Rating: Outperform | Target: Rs 1,445
Macquarie has maintained Outperform call on the stock with a target at Rs 1,445. According to Macquarie, the consolidated profit was in-line with expectations. The loan growth was modest and lagged retail focussed peers such as HDFC Bank, it added.
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