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Kotak Bank Gains 2%; BSE BANKEX Index Up 1.8%
Wed, 3 Jul 15:10

Kotak Bank Gains 2%; BSE BANKEX Index Up 1.8%Image source: ipopba/www.istockphoto.com

Kotak Bank share price has zoomed 2% and is presently trading at Rs 1,807.4.

Meanwhile, the BSE BANKEX index is at 60,349.2 (up 1.8%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 3.8%) and IDFC FIRST BANK (up 2.5%).

AU SMALL FINANCE BANK (down 0.9%) is among the top losers today.

Over the last one year, Kotak Bank has moved down from Rs 1,843.8 to Rs 1,807.4, registering a loss of Rs 36.3 (down 2.0%).

On the other hand, the BSE BANKEX index has moved up from 50,894.9 to 60,349.2, 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 43.3%), Federal Bank (up 42.5%) and Bank of Baroda (up 34.5%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,919.7 (up 0.6%).

The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 2.4%) and HDFC Bank (up 2.2%). The most traded stocks in the BSE Sensex are SBI and Tata Steel.

In the meantime, NSE Nifty is at 24,269.9 (up 0.6%). Tata Consumer Products and MUNDRA PORT & SEZ are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,205.1 to 79,919.7, registering a gain of 14,714.6 points (up 22.6%).

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 20.0.


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