Kotak Mahindra Bank gains 3.3% after Q2 advances rise 24.7%; GS reiterates 'buy'
Shares of India's Kotak Mahindra Bank rose 3.3% to 429.80 rupees after reporting a 24.7% rise in net advances for Q2FY27. Goldman Sachs reiterated its 'buy' rating with a price target of 540 rupees, citing stronger-than-expected Q2 updates and raising earnings estimates.
7% increase in net advances for Q2FY27. Goldman Sachs reiterated its "buy" rating with a price target of 540 rupees, citing stronger-than-expected Q2 updates and raising its earnings estimates to a 19% EPS CAGR over FY26-29. The broker said organic loans rose 19% year on year from 15% in the previous quarter, and expects the trend to continue with support from retail lending, SME lending and commercial banking. compiled data showed the stock is rated "buy" on average by 37 analysts, with a median target price of 470 rupees.
5% year to date.