Technical analyst Vijay Agrawal of Unicon Financial has maintained ‘buy’ rating on Kotak Mahindra Bank Ltd stock with a target of Rs 480.
According to analyst, the investors can hold the stock with a stop loss of Rs 461.
The stock of the company, on November 29, closed at Rs 466.05 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 529.50 and a low of Rs 354 on BSE.
Current EPS & P/E ratio stood at 19.66 and 23.54 respectively.
Kotak Mahindra has recorded an increase of 21.46% in its consolidated net profit at Rs 3,641.08 million for the three month period ended Sep. 30 as against Rs 2,997.67 million for the same period of 2009.
Total income jumped 27.21% to Rs 29,409.64 million for Jul-Sep quarter from Rs 23,119.09 million for the three month period ended Sep. 30, 2009
On standalone basis, Kotak Mahindra recorded a net profit of Rs 1,947.04 million for the three month period ended Sep. 30 as against Rs 1,259.09 million for the quarter ended Sep 2009.
On Nov 09, Kotak Mahindra Bank increased its base rate by 0.25% to 7.75% as against its earlier 7.50%.
Kotak Mahindra Bank also increased its BPLR by 0.25% to 16.25%.
All loan sections will henceforth be determined with reference to the reviewed base rate.
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