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Buy Kotak Mahindra Bank; target of Rs 2150: ICICI Direct

ICICI Direct is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 2150 in its research report dated May 05, 2022.

May 05, 2022 / 09:45 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 61% of total deposits aiding lower costs • Strong RoA of ~2%and RoE of 12-13% makes it a good profitable bank.


Outlook


We remain positive on fundamentals expecting healthy business growth ahead and maintain our BUY rating on the stock. We value standalone bank at ~3.6x FY24E ABV and subsidiaries at ~Rs 485 post holding company discount giving SOTP target of Rs 2150.


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first published: May 5, 2022 09:45 pm
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