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Kotak Bank Plunges 3%; BSE BANKEX Index Down 0.1%
Mon, 22 Jul 11:0

Kotak Bank Plunges 3%; BSE BANKEX Index Down 0.1%Image source: KanawatTH/www.istockphoto.com

Kotak Bank share price has plunged 3% and is presently trading at Rs 1,767.9.

Meanwhile, the BSE BANKEX index is at 60,116.5 (down 0.1%).

Among the top losers in the BSE BANKEX index today are ICICI Bank (down 0.9%) and Indusind Bank (down 0.8%).

HDFC Bank (up 2.6%) and AU SMALL FINANCE BANK (up 2.4%) are among the top gainers today.

Over the last one year, Kotak Bank has moved down from Rs 1,891.3 to Rs 1,767.9, registering a loss of Rs 123.4 (down 6.5%).

On the other hand, the BSE BANKEX index has moved up from 51,207.9 to 60,116.5, registering a gain of 17.4% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 49.1%), Federal Bank (up 43.4%) and Axis Bank (up 33.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,717.1 (up 0.1%).

The top gainers among the BSE Sensex today are NTPC (up 2.9%) and HDFC Bank (up 2.6%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,568.7 (up 0.2%). BPCL and NTPC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,795.1 to 80,717.1, registering a gain of 13,921.9 points (up 20.8%).

Kotak Bank Financial Update...

Kotak Bank net profit grew 80.1% YoY to Rs 73,994 million for the quarter ended June 2024, compared to a profit of Rs 41,093 million a year ago. Net sales rose 23.1% to Rs 158,368 million during the period as against Rs 128,689 million in April-June 2023.

For the year ended March 2024, Kotak Bank reported 22.0% increase in net profit to Rs 182,132 million compared to net profit of Rs 149,250 million during FY23. Revenue of the company grew 33.4% to Rs 562,366 million during FY24.

The current Price to earnings ratio of Kotak Bank, based on rolling 12 month earnings, stands at 16.5.


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