Moneycontrol
Last Updated : Nov 05, 2018 02:47 PM IST | Source: Moneycontrol.com

Buy Kotak Mahindra Bank; target of Rs 1461: KR Choksey

KR Choksey is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1461 in its research report dated October 25, 2018.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

KR Choksey's research report on Kotak Mahindra Bank


Advances at INR 1849.4 bn grew at 21% yoy led by 28% growth in the retail book and 17% growth in the corporate book. The bank continued to deliver strong growth in CV and small business/PL/credit card book of 40% and 39% respectively. NII at INR 26.9 bn grew 16% yoy/ 4% qoq. NIMs (reported) at 4.2% contracted 10 bps qoq on account of pressure from cost of funds which increased ~16 bps qoq (vs. 12 bps qoq increase in funds yield).


Outlook


We have also cut our growth and NIM projections and multiple for Kotak Prime given the latest management commentary on the lines of increased competition and unfavorable pricing. We maintain BUY.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Nov 5, 2018 02:47 pm
Loading...
Sections
Follow us on
Available On