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Why Kotak Bank remains our favourite core portfolio stock despite its weak numbers

The single most important reason to like Kotak Bank despite not being a growth story is its excellent liability franchise

July 28, 2020 / 06:10 PM IST
Why Kotak Bank remains our favourite core portfolio stock despite its weak numbers

Kotak Mahindra Bank by Rs 5,084.82 crore to Rs 3,43,934.41 crore.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Kotak Mahindra Bank (Kotak Bank, CMP: Rs1322 Market Cap: Rs 2,61,695 crore) had an overall  disappointing quarter marked by significant deceleration in business momentum in addition to a decline in reported profit on account of Covid-19 provisions. While the Street, hungry for growth, has been punishing the stock for choosing prudence over growth (stock is up 20 percent from its March lows against 29 percent rise in Bank Nifty and 46 percent in Nifty), we like the strategic clarity...

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