Kotak Mahindra Bank share price: Kotak Mahindra Bank stock surges 9.3 per cent as five brokerages upgrade after Q3 results
The shares of Kotak Mahindra Bank Limited were trading at ₹1,923.55 up by ₹164.95 or 9.38 per cent on the NSE today at 11.29 am.
Five leading brokerages have upgraded Kotak Mahindra Bank to ‘buy’ following its Q3FY25 results, with target prices ranging from ₹2,020 to ₹2,111. The private sector lender reported a 10 per cent year-on-year increase in net profit at ₹3,305 crore for the third quarter.
The bank’s net interest income grew 10 per cent y-o-y to ₹7,196 crore, while other income rose 14 per cent to ₹2,623 crore. Average deposits increased 15 per cent y-o-y to ₹4.58 lakh crore, matching the pace of net advances growth at 15 per cent to ₹4.13 lakh crore.
However, the bank’s net interest margin declined to 4.93 per cent from 5.22 per cent in the same quarter last year. Fresh slippages increased to ₹1,657 crore, up from ₹1,177 crore a year ago. The gross and net non-performing asset ratios stood at 1.50 per cent and 0.41 per cent respectively.
The bank’s management noted that while the personal loan portfolio is performing well, credit card stress continues to stabilize. They expect microfinance loan stress to normalize in the coming quarters.
In a separate development, the bank’s board approved raising up to ₹10,000 crore through non-convertible debentures in FY26. Consumer loans constitute 46 per cent of the bank’s advances, while commercial and corporate loans each account for 22 per cent.
