Kotak Mahindra Bank share price gains over 4% after Q4 results: Should you buy?

Kotak Mahindra Bank share price: The stock rallied 4.2% to ₹1,612.30 apiece on the BSE after reporting better than expected Q4 results.

Updated on: May 6, 2024, 11:04:36 IST

By HT News Desk

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Kotak Mahindra Bank share price: The share price of Kotak Mahindra Bank gained over 4% today after the lender reported better than expected Q4 results. The stock rallied 4.2% to ₹1,612.30 apiece on the BSE.

Kotak Mahindra Bank share price: A man walks past the Kotak Mahindra Bank branch in New Delhi, India. (Reuters)

Kotak Mahindra Bank Q4 results

JP Morgan on Kotak Mahindra Bank

Emkay Global Financial Services on Kotak Mahindra Bank

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Emkay Global said that Kotak Mahindra Bank reported a huge 28% beat on PAT, mainly on treasury gains/debt syndication fees, reversal of AIF provisions and lower tax rate. The brokerage cut FY25E-27E growth estimates by 200 bps and said that it expects the RoA/RoE trajectory to slip to 1.9% - 2.3% / 13% - 14%, on higher opex/provisions. The brokerage retained ‘Reduce’ rating and cut Kotak Mahindra Bank share price target to ₹1,625 apiece.

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HT News Desk
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