The Uday Kotak-led bank has been vocal about its interest in buying stressed assets but has not made much headway in the endeavour.
A list of important headlines from across news agencies that could help in your trade today.
The Street is anticipating highest NII growth rate in last few quarters. Low cost deposit flow is expected to be strong for the bank.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Indiabulls Housing Finance, Maruti Suzuki, UPL and Kotak Mahindra Bank and can sell Raymond and KPIT Tech.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Godrej Consumer Products, Kotak Mahindra Bank, Wockhardt and Jubilant Lifesciences and can hold TCS and Adani Power.
"Money is coming to a broad funnel and it’s going into a narrow pipe where massive amount of Indian savers’ money is now going into few hundred stocks. And you come back to the question of how good is the governance of these companies.
Ashwani Gujral of ashwanigujral.com recommends buying Delta Corp with a stop loss of Rs 312, target of Rs 328 and GSFC with a stop loss of Rs 154, target of Rs 168.
According to a top bank executive, Kotak Mahindra Bank will witness 15-20 percent growth in the corporate banking and SME portfolio.
Ashwani Gujral of ashwanigujral.com recommends buying Jubilant Life Sciences, Mindtree and IDFC Bank.
Indian equity markets need to keep an eye on bond markets, what is happening to interest rates, the Budget and the levels of fiscal deficit, said Uday Kotak, Executive Vice Chairman and MD, Kotak Mahindra Bank.
"Loose ends are not necessarily in promoters’ control – service tax dues, labour dues, etc," he says.
As the chief of the fourth largest private bank, Kotak questioned that allowing global investments has come at a price to the domestic investors.
KR Choksey recommended accumulate rating on Kotak Mahindra Bank with a target price of Rs 1104 in its research report dated October 26, 2017.
JM Financial is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1075 in its research report dated October 25, 2017.
Motilal Oswal is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1179 in its research report dated October 25, 2017.
Edelweiss recommended hold rating on Kotak Mahindra Bank with a target price of Rs 1,056 in its research report dated October 25, 2017.
"Kotak needs to deliver consistently on higher loan growth and fees to justify its rich valuations," IDFC Securities said while retaining neutral call with a target price of Rs 910.
Asset quality improved nicely in the quarter ended September 2017 as gross non-performing assets (NPA) fell 11 basis points sequentially to 2.47 percent and net NPA slipped 42 basis points to 1.26 percent.
Analysts feel if net interest margin comes above 4.35 percent (against 4.5 percent in Q1FY18), loan growth above 15 percent (17.9 percent) and gross non-performing assets below 2.7 percent (2.58 percent) then that will be considered positive by the Street.
As per a release, Paymint enables corporates to offer a host of benefits to its employees including meal vouchers, medical reimbursements, leave travel allowances, conveyance, and fuel allowances, among others "to maximise tax benefits" for employees and optimise the process of making claims.
The life insurer had reported profit of Rs 300 crore last fiscal. The overall networth of the business stood at Rs 1,825 crore as of March 2017.
Kotak Mahindra Bank today announced festive offers on home loans, loan against property, working capital loans and business loans along with waiver of part of full processing charges.
Reliance Industries and Infosys were among the top gainers, up 1.73 percent and 1.36 percent respectively, apart from stocks like Lupin, UPL and Power Grid which gained up to 2.3 percent. In the Nifty50, the advance-decline ratio was in favour of the advances with 29 stocks advancing and 20 stocks declining.
VK Sharma, Head - PCG and Capital Market Strategy at HDFC Securities suggests buying TVS Motor, Tata Elxsi, Kotak Mahindra Bank, Yes Bank and IDFC Bank.
Ashwani Gujral of ashwanigujral.com recommends buying Prestige Estates, MOIL, TVS Motor, Kotak Mahindra Bank and Bata India.