Kotak Mahindra Bank witnessed a market cap increase of ₹358.89 crore, bringing its total market cap to ₹3,48,081.08 crore as of Friday’s close. The last traded share price on Friday was ₹1,745.80, reflecting a marginal weekly gain of approximately 0.10% from Monday’s close of ₹1,744.00.
Shares of Kotak Mahindra Bank currently stand at ₹1,745.80, reflecting a 1.07% dip over the past year, as per the latest update. The stock’s performance has been weighed down by concerns over higher provisions and narrowing lending margins, impacting its earnings.
In its recent quarterly results for July-September, Kotak Mahindra Bank reported a 5% year-over-year increase in profit to ₹3,344 crore, which fell short of market expectations due to a notable 80% surge in loan provisions, amounting to ₹660 crore. This increase in provisions was primarily driven by higher potential bad loans, putting pressure on the bank’s profitability.
The bank’s Net Interest Income (NII) for the quarter met expectations, rising by 11.5% year-over-year to ₹7,020 crore. However, the Net Interest Margin (NIM) declined by 11 basis points to 4.9%, a result of regulatory impacts, a reduced share of high-yield unsecured loans, and increased loan slippages.
