Tata Consultancy Services (TCS) continued to rule the market cap chart followed by RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, ITC, Infosys, Maruti Suzuki India, Kotak Mahindra Bank and SBI in the week to Friday.
Outlook for the wealth management industry is promising as the market is under penetrated, likely to grow in sync with India’s economic growth and rising income levels in the economy
With over 175 international countries supporting the Yoga practice, it has a clearly paved way to become mentally and financially healthy.
Kotak said the recent losses by banks look "unreal" and the present stress is a "culmination of years of kicking the can" and added that for the next few quarters, the provisions will continue to be higher.
However, the billionaire banker refused to divulge more details on the reasons behind his decision to hold on to the stake
While RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, Maruti Suzuki India and Kotak Mahindra Bank saw gains in their market capitalisation (m-cap) for the week ended Friday, Tata Consultancy Services (TCS), ITC, Infosys and SBI suffered losses.
The US-based multi-national company for which Kaul used to work suspended him after a complaint was registered to them
ICICI Direct is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1440 in its research report dated May 02, 2018.
Edelweiss is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1366 in its research report dated April 30, 2018.
KR Choksey is bullish on Kotak Mahindra Bank has recommended buy rating on the stock with a target price of Rs 1402 in its research report dated May 02, 2018.
Prabhudas Lilladher recommended accumulate rating on Kotak Mahindra Bank with a target price of Rs 1239 in its research report dated April 30, 2018.
The market breadth was in favour of the declines with 437 stocks advancing while 1138 declined and 454 remained unchanged. On the other hand, in the BSE, 580 stocks advanced and 1258 declined and 82 remained unchanged.
"Kotak Mahindra Bank, at current valuations, seems very expensive at a P/BV of 6x. However, investors with a long term horizon might consider this company for investment on dips and gradually accumulate it," says Akash Jain, Vice-president, Equity Research at Ajcon Global Services.
The market breadth was in favour of the declines with 568 stocks advancing while 1154 declined and 321 remained unchanged. On the other hand, in the BSE, 974 stocks advanced and 1637 declined and 118 remained unchanged.
The top BSE gainers included Reliance Communications which zoomed 13 percent while Indiabulls Ventures added 10 percent. Videocon Industries, Cyient and Kotak Mahindra Bank were the other gainers.
The market breadth was in favour of the declines with 791 stocks advancing while 832 declined and 409 remained unchanged. On the other hand, in the BSE, 981 stocks advanced and 955 declined and 82 remained unchanged.
Rajesh Agarwal of AUM Capital recommends buying Kotak Mahindra Bank with target of Rs 1240 and stop loss at Rs 1185, a buy in Selan Exploration Technology with target at Rs 270 and stop loss at Rs 252 and a buy also on IRB Infrastructure Developers with target at Rs 295 and stop loss at Rs 272.
Net Interest Income (NII + OI) is expected to increase by 6 percent Y-o-Y (up 3 percent Q-o-Q) to Rs. 5,942.5 crore, according to Edelweiss.
Net Interest Income is expected to increase by 14.6 percent Y-o-Y (up 3.5 percent Q-o-Q) to Rs. 2,477.9 crore, according to ICICI Direct.
Net Interest Income is expected to increase by 17 percent Y-o-Y (up 6 percent Q-o-Q) to Rs. 2,530 crore, according to KR Choksey.
Private lender Kotak Mahindra Bank today retained its place among the 10 most valued Indian companies with a market valuation of over Rs 2.22 lakh crore, keeping the country's largest lender State Bank of India (SBI) out of the coveted list.
The top Nifty gainers included Cipla which was jumped 4 percent while Grasim Industries gained 2.5 percent. Hero MotoCorp and Indiabulls Housing Finance along with Kotak Mahindra Bank were the other gainers.
However, there is a need for universal banks which offer the entire gamut of services to be more agile to take on the new entrants, the bank's head of retail liabilities, investment and payment products, Ambuj Chandna said.
The president-designate of CII also said that one of the biggest challenges facing the Indian industry relates to ethics, values and governance.
The Nifty50 is expected to open flat on Friday tracking muted trend seen in other Asian markets.