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Buy Kotak Mahindra Bank, target Rs 1,750: Arun Kumar

Buy Kotak Mahindra Bank Ltd. at a price target of Rs 1750.0 and a stoploss at Rs 1598 from entry point.

ETMarkets.com|
Updated: Dec 03, 2019, 08.49 AM IST
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Arun Kumar of Reliance Securities has a buy call on Kotak Mahindra Bank Ltd. with a target price of Rs 1750. The current market price of Kotak Mahindra Bank Ltd. is Rs 1633.Time period given by the analyst is Intra Day when Kotak Mahindra Bank Ltd. price can reach the defined target. Arun Kumar recommended to keep stoploss at Rs 1598. Kotak Mahindra Bank Ltd., incorporated in 1985, has a market cap of Rs 311974.16 crore.

Kotak Mahindra Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 14727.95 Crore to Sales Value (74.57 % of Total Sales), Income From Investment which contributed Rs 3933.00 Crore to Sales Value (19.91 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 755.29 Crore to Sales Value (3.82 % of Total Sales) and Interest which contributed Rs 332.25 Crore to Sales Value (1.68 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 5475.48 Crore (.00 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 2031.59 Crore (.00% of total assets). For the quarter ended 30-09-2019, the company has reported a Consolidated Interest Income of Rs 6284.31 Crore, up 1.01 % from last quarter Interest Income of Rs 6221.51 Crore and up 15.61 % from last year same quarter Interest Income of Rs 5435.56 Crore. The bank has reported net profit after tax of Rs 2399.08 Crore in latest quarter.
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