Kotak Mahindra Bank shares climb 4% after the Q2 results
Kotak Mahindra Bank reported strong Q2FY27 earnings, with consolidated profit rising 26% year-on-year. Jefferies, Goldman Sachs, Motilal Oswal and Nuvama maintained Buy ratings, citing growth prospects and improving earnings outlook.
Kotak Mahindra Bank's shares rose 4% to Rs 446 on the BSE after the company announced a 26% year-on-year increase in consolidated profit after tax (PAT) for Q2FY27. The private lender's PAT rose 29% YoY to Rs 4,212 crore, while net interest income (NII) climbed 16% YoY to Rs 8,459 crore. Jefferies maintains a Buy rating on the stock with a target price of Rs 520, while Goldman Sachs has a Buy rating with a target price of Rs 540.
Motilal Oswal also holds a Buy rating with a target price of Rs 500. The bank expects growth to normalize towards a 16% CAGR over FY27-29, with some margin expansion and operating synergies offsetting lower bancassurance fees.
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- Kotak Mahindra Bank shares lead Nifty 50 gainers after Q2 results, brokerages lift targets thehindubusinessline.com
