Kotak Mahindra Bank Ltd Share Price – NSE /  BSE

Banks, Mid Cap

Kotak Mahindra Bank Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1788, down 0.18% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.4% on the day, quoting at 25153.45. The Sensex is at 82172.16, up 0.47%.Kotak Mahindra Bank Ltd has gained around 0.11% in last one month.Meanwhile, Nifty Bank index of which Kotak Mahindra Bank Ltd is a constituent, has eased around 0.42% in last one month and is currently quoting at 51143.85, up 0.27% on the day. The volume in the stock stood at 28.55 lakh shares today, compared to the daily average of 36.52 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 1788.35, down 0.19% on the day. Kotak Mahindra Bank Ltd jumped 0.74% in last one year as compared to a 30.01% rally in NIFTY and a 15.94% spurt in the Nifty Bank index.

The PE of the stock is 25.62 based on TTM earnings ending June 24.

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Kotak Mahindra Bank Ltd gained for a third straight session today. The stock is quoting at Rs 1804.95, up 1.32% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.57% on the day, quoting at 24712.8. The Sensex is at 80888.47, up 0.58%. Kotak Mahindra Bank Ltd has gained around 2.7% in last one month.

Meanwhile, Nifty Bank index of which Kotak Mahindra Bank Ltd is a constituent, has gained around 2.55% in last one month and is currently quoting at 50368.35, up 1.15% on the day. The volume in the stock stood at 10.59 lakh shares today, compared to the daily average of 46.22 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 1807.85, up 1.49% on the day. Kotak Mahindra Bank Ltd is up 2.53% in last one year as compared to a 27.43% jump in NIFTY and a 15.79% jump in the Nifty Bank index.

The PE of the stock is 25.48 based on TTM earnings ending June 24.

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Kotak Mahindra Bank announced that Virat Diwanji will cease to be the Group President and Head - Consumer Bank and a member of the Group Management Council (Senior Management Personnel), on account of his superannuation on 31 July 2024.

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The bank said that its PAT for Q1 FY25 excluding gains (net of tax) of 2,730 crore (on divestment of stake in Kotak General Insurance) stood at Rs 3,520 crore.

Profit before tax jumped 78.74% year on year (YoY) to Rs 8,195.53 crore in the quarter ended 30 June 2024.

Net interest income (NII) for Q1 FY25 stood at Rs 6,842 crore, up 10% from Rs 6,234 crore recorded in Q1FY24. Net interest margin (NIM) was 5.02% for Q1FY25.

Operating profit was at Rs 5,254 crore during the quarter, up 6% as against Rs 4,950 crore reported in Q1FY24.

Fees and services grew by 23% YoY to Rs 2,240 crore in the quarter ended 30 June 2024. Customers as at 30 June 2024 were 5.1 crore as compared to 4.3 crore as at 30 June 2023.

Advances (incl. IBPC & BRDS) increased 20% YoY to Rs 405,957 crore as at 30 June 2024 from Rs 337,031 crore as at 30 June 2023. Customer assets, which comprises advances (incl. IBPC & BRDS) and credit substitutes, grew by 20% YoY to Rs 435,827 crore as at 30 June 2024 from Rs 362,204 crore as at 30 June 2023.

Average total deposits improved to Rs 4,35,603 crore for Q1 FY25, up 21% YoY from Rs 3,61,295 crore posted in Q1 FY24. CASA ratio as at 30 June 2024 stood at 43.4%.

On asset quality front, gross non-performing asset (GNPA) ratio was at 1.39% as on 30 June 2024 as against 1.77% as on 30 June 2023. Net non-performing assets (NNPA) ratio stood at 0.35 as on 30 June 2024 as compared to 0.40% as 30 June 2023.

The provision coverage ratio stood at 75% in Q1 FY25. During the quarter, Slippages were at Rs 1,358 crore from Rs 1,205 crore reported in the same period a year ago.

Capital adequacy ratio of the bank, as per basel III, as at 30 June 2024 was 22.4% and CET1 ratio of 21.3% (including unaudited profits).

Return on assets (ROA) for Q1 FY25 (annualized) was 4.22% as against 2.81% registered in Q1 FY24. ROA for Q1FY25 (annualized) excluding gains on divestment of stake in Kotak General Insurance stood at 2.38%.

On a consolidated basis, the bank's PAT for Q1 FY25 was Rs 7,448.16 crore, up 79.47% YoY from Rs 4,150.19crore in Q1 FY24. At the consolidated level, the Return on assets (ROA) for Q1 FY25 (annualized) was 3.87% and Return on equity (ROE) for Q1 FY25 (annualized) stood at 22.04%.

Consolidated networth as at 30 June 2024 was at Rs 141,165 crore (including impact of Rs 3,414 crore increase in reserves on implementation of RBI directions).

Total assets under management as at 30 June 2024 stood at Rs 636,311 crore, up 36% YoY from Rs 466,878 crore as at 30 June 2023. The Domestic MF equity AUM increased by 64% YoY to Rs 293,167 crore as at 30 June 2024.

Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending and car finance.

Shares of Kotak Mahindra Bank shed 0.07% to end at Rs 1,821.75 on Friday, 19 July 2024.

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