Buy Kotak Mahindra Bank, target Rs 1,020: Motilal Oswal Securities

Chandan Taparia of Motilal Oswal Securities has a buy call on Kotak Mahindra Bank with a target price of Rs 1,020.

The current market price of Kotak Mahindra Bank is 986.9.

Time period given by analyst is intraday when Kotak Mahindra Bank price can reach defined target. Motilal Oswal Securities recommended to keep stoploss at Rs 955.

Kotak Mahindra Bank, incorporated in the year 1985, is a banking company (having a market cap of Rs 185972.04 crore).

Kotak Mahindra Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 13402.10 crore to Sales Value (75.72 % of Total Sales), Income From Investment which contributed Rs 3681.04 crore to Sales Value (20.79 % of Total Sales), Interest which contributed Rs 397.47 crore to Sales Value (2.24 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 218.32 crore to Sales Value (1.23 % of Total Sales)for the year ending 31-Mar-2017.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 3803.92 crore and Net Non Performing Assets (Net NPAs) of Rs 1814.23 crore. For the quarter ended 31-03-2017, the company has reported a Consolidated Interest Income of Rs 4194.24 crore, down .81 % from last quarter Interest Income of Rs 4228.47 crore and up 5.43 % from last year same quarter Interest Income of Rs 3978.38 crore. The bank has reported net profit after tax of Rs 1421.38 crore in latest quarter.

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