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Kotak Bank Plunges 2%; BSE BANKEX Index Down 0.7%
Tue, 2 Jul 9:57

Kotak Bank Plunges 2%; BSE BANKEX Index Down 0.7%Image source: CreativaImages/www.istockphoto.com

Kotak Bank share price has plunged 2% and is presently trading at Rs 1,774.2.

Meanwhile, the BSE BANKEX index is at 59,418.4 (down 0.7%).

Among the top losers in the BSE BANKEX index today are ICICI Bank (down 1.3%) and Axis Bank (down 1.2%).

AU SMALL FINANCE BANK (up 0.4%) and HDFC Bank (up 0.3%) are among the top gainers today.

Over the last one year, Kotak Bank has moved down from Rs 1,840.5 to Rs 1,774.2, registering a loss of Rs 66.3 (down 3.6%).

On the other hand, the BSE BANKEX index has moved up from 50,107.1 to 59,418.4, registering a gain of 18.6% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 47.3%), Federal Bank (up 45.1%) and Bank of Baroda (up 42.4%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,358.9 (down 0.1%).

The top losers among the BSE Sensex today are Bajaj Finance (down 1.6%) and Tata Motors (down 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,102.7 (down 0.2%). Shriram Transport and HDFC LIFE INSURANCE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,915.4 to 79,358.9, registering a gain of 15,443.5 points (up 24.2%).

Kotak Bank Financial Update...

Kotak Bank net profit grew 15.7% YoY to Rs 52,423 million for the quarter ended March 2024, compared to a profit of Rs 45,295 million a year ago. Net sales rose 26.5% to Rs 151,562 million during the period as against Rs 119,816 million in January-March 2023.

For the year ended March 2023, Kotak Bank reported 23.5% increase in net profit to Rs 149,250 million compared to net profit of Rs 120,894 million during FY22. Revenue of the company grew 24.9% to Rs 421,511 million during FY23.

The current Price to earnings ratio of Kotak Bank, based on rolling 12 month earnings, stands at 19.6.


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