Kotak Mahindra Bank: 5 brokerages upgrade to ‘buy’ with higher targets post Q3

Kotak Mahindra Bank reported a net profit of ₹3,305 crore for Q3FY25, marking a 10 per cent year-on-year (y-o-y) increase and flat growth on a quarter-on-quarter basis, driven by stable core income growth. The bank’s net interest income (NII) rose 10 per cent y-o-y to ₹7,196 crore, while other income increased 14 per cent y-o-y to ₹2,623 crore.

These strong third-quarter results have led to “Buy” upgrades from five leading brokerage firms. DAM Capital set a target price (TP) of ₹2,020, while Motilal Oswal raised its TP to ₹2,100 from ₹1,900. ICICI Securities hiked its TP to ₹2,050 from ₹1,850, and B&K Securities increased its TP to ₹2,111 from ₹1,908. Nuvama Research also upgraded to “Buy,” raising its TP to ₹2,040 from ₹1,615. These revisions reflect optimism about the bank’s growth outlook and profitability.