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%).
Must See: These Segments are Witnessing Incredible Growth with Modi's Push
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 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.
Equitymaster requests your view! Post a comment on "Kotak Bank Plunges 2%; BSE BANKEX Index Down 0.7%". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!