Kotak Bank Stock Check: Brokerages upgrade lender, but do technicals back the bullish call?
2 months, 3 weeks ago

Kotak Bank Stock Check: Brokerages upgrade lender, but do technicals back the bullish call?

Live Mint  

Private sector lender Kotak Mahindra Bank had a rocky ride in 2024, emerging as one of the underperformers in the Nifty Bank pack. Here's a look at the stock's technical and fundamental analysis: Technical Analysis The recent price action has reinforced a bullish outlook for Kotak Mahindra Bank, with technical analysts projecting a potential target price of ₹2,000 for the stock. Fundamental Outlook Foreign brokerage Citi has upgraded Kotak Mahindra Bank Ltd to a ‘Buy’ from ‘Neutral,’ raising the target price to ₹2,070 from ₹1,940. Meanwhile, Jefferies also upgraded Kotak Mahindra Bank's rating from Hold to Buy, raising the price target to ₹2,120 from ₹2,080, citing improved alignment of valuations with potential. Earnings Performance Kotak Mahindra Bank reported a 5 per cent year-on-year increase in standalone profit after tax for the quarter ended September 2024, reaching ₹3,344 crore compared to ₹3,191 crore in Q2FY24.

History of this topic

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