Jefferies has reiterated its Buy rating on Kotak Mahindra Bank with a target price of ₹2,550, implying an 18.6% upside from the current market price of ₹2,150.00. The brokerage highlighted the bank’s robust loan and deposit performance in Q1FY26 as key positives.
According to Jefferies, Kotak Mahindra Bank delivered a healthy 14% year-on-year and 4% quarter-on-quarter loan growth, reflecting strong traction in credit expansion despite a muted macroeconomic backdrop. Total deposits grew 15% YoY, indicating continued strength in liability mobilisation.
While CASA (current and savings account) deposits declined 2% QoQ on a sequential basis, Jefferies noted that they held up well on an average basis, mitigating any near-term concerns about deposit quality or stability.
The brokerage believes Kotak’s consistent performance across credit and deposits, along with its strong balance sheet and prudent risk management, supports its positive long-term view on the stock.
Disclaimer: The views expressed above are those of Jefferies and do not constitute investment advice. This article is for informational purposes only.
