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Kotak Mahindra Bank – A soft quarter doesn’t alter the investment case

The declining competition from NBFCs as well as weaker banks puts Kotak Bank at a vantage point

July 27, 2021 / 02:09 PM IST
Kotak Mahindra Bank – A soft quarter doesn’t alter the investment case

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: Rs 1723, Market Cap: Rs 3,41,654 crore), caught unawares by the ferocity of the second wave of the pandemic, reported a soft quarter wherein not only growth took a back seat but asset quality also weakened, courtesy poor collection efficiency and stress in certain pockets of the borrowers. The loss in the insurance business due to exceptionally high claims on account of COVID related deaths took away the sheen from the consolidated numbers...

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