Kotak Bank Q3: Strong Earnings Trigger Multiple Broker Upgrades

Kotak Mahindra Bank reported robust Q3FY25 results with a 10% YoY rise in net profit to Rs 3,305 crore. The bank delivered healthy operating performance with NII growing 10% to Rs 7,196 crore and NIM at 4.93%. Multiple brokerages have upgraded the stock - Motilal Oswal raised its target to Rs 2,100, while Jefferies increased it to Rs 2,200. Key positives include 15% growth in advances and deposits, stable asset quality with NNPA at 0.41%, and anticipated reversal of RBI's card issuance ban. The stock remains an attractive investment option given its strong fundamentals and potential catalysts ahead.

Source: CNBC TV18, January 20, 2025