Kotak Mahindra Bank upgraded to 'buy' by HSBC on loan growth, CEO view

HSBC upgrades Kotak Mahindra Bank to 'buy' from 'hold', raises price target to 520 rupees. Raises loan growth estimates to 21.2% CAGR over FY27-FY29 from 16.7% citing strong underlying growth, consolidation of loan book and deployment of FCNR(B) funds. Notes Anup Saha appointment as MD and CEO.