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Kotak Bank Plunges 4%; BSE BANKEX Index Down 0.3%
Mon, 21 Oct 9:48

Kotak Bank Plunges 4%; BSE BANKEX Index Down 0.3%Image source: StarLineArts/www.istockphoto.com

Kotak Bank share price has plunged 4% and is presently trading at Rs 1,786.8.

Meanwhile, the BSE BANKEX index is at 59,179.6 (down 0.3%).

Among the top losers in the BSE BANKEX index today are Indusind Bank (down 2.3%) and AU SMALL FINANCE BANK (down 0.8%).

HDFC Bank (up 2.6%) and Axis Bank (up 0.5%) are among the top gainers today.

Over the last one year, Kotak Bank has moved up from Rs 1,771.5 to Rs 1,786.8, registering a gain of Rs 15.3 (up 0.9%).

On the other hand, the BSE BANKEX index has moved up from 49,954.6 to 59,179.6, registering a gain of 18.5% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 41.5%), ICICI Bank (up 31.6%) and Federal Bank (up 31.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,024.9 (down 0.2%).

The top losers among the BSE Sensex today are Indusind Bank (down 2.3%) and Bharti Airtel (down 2.1%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Steel.

In the meantime, NSE Nifty is at 24,772.3 (down 0.3%). Tata Consumer Products and BPCL are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,428.1 to 81,024.9, registering a gain of 14,596.8 points (up 22.0%).

Kotak Bank Financial Update...

Kotak Bank net profit grew 13.0% YoY to Rs 49,978 million for the quarter ended September 2024, compared to a profit of Rs 44,229 million a year ago. Net sales rose 19.8% to Rs 164,270 million during the period as against Rs 137,166 million in July-September 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 16.3.

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