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Buy Kotak Mahindra Bank; target of Rs 2040: ICICI Direct

ICICI Direct is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 2040 in its research report dated July 27, 2021.

July 29, 2021 / 02:08 PM IST
 
 
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ICICI Direct's research report on Kotak Mahindra Bank


Kotak Mahindra Bank (KMB) is a powerful banking franchise, with promoter stake at 26% and strong promoter led management. It has a presence across financial services value chain.CASA forms 60.2% of total deposits aiding lower costs Strong RoA of 1.8%and RoE of 12-13% make it a good profitable bank


Outlook


We retain our BUY rating on the stock, expecting growth pick-up from Q3FY22 while strong promoter holding provides comfort We value standalone bank at ~3.9x FY23E ABV and subsidiaries at Rs 455 post holding company discount giving SOTP target of Rs 2040


For all recommendations report, click here

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first published: Jul 29, 2021 02:08 pm
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