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Buy Kotak Mahindra Bank; target of Rs 2550: ICICI Direct

ICICI Direct is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 2550 in its research report dated October 27, 2021.

October 28, 2021 / 02:19 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 the financial services value chain. CASA forms 60.6% of total deposits aiding lower costs Strong RoA of 1.8%and RoE of 12-13% make it a good profitable bank


Outlook


We stay positive on fundamentals expecting healthy business growth ahead. Thus, we maintain our BUY rating We value standalone bank at ~4.5x FY24E ABV and subsidiaries at Rs 523 post holding company discount giving SOTP target of Rs 2550


For all recommendations report, click here

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first published: Oct 28, 2021 02:19 pm

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