Kotak Bank falls over 7% on disappointing Q1 results
ADVERTISEMENT Kotak shares have declined 9% in the past month, against Nifty Bank's decline of 2.1% in this period. SBI Securities estimates the fair value of stock at ₹2,000-₹2,050 over next 12 months and suggests buy-on-dips approach.
"Loan and deposit growth remains steady, and with the embargo on the 811 platform lifted and new product offerings in place, performance is likely to improve from Q3 onwards, provided there are no further rate cuts," said Sunny Agrawal, head of fundamental research at SBI Securities. In February, the RBI had lifted the restriction on opening new bank accounts digitally via Kotak 811 platform, after a ban was imposed in April 2024. Nomura has a 'neutral' rating, with a revised price target of ₹2,150. "Kotak's results in Q1FY26 were soft, led by asset quality deterioration and a sharper decline in NIMs. Slippages and credit costs were elevated at 1.7% and 1.2%, respectively," said brokerage Nomura's analysts.
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The Print
2 days ago
- The Print
Markets extend losses on global sell-off amid US tariff concerns; Sensex tanks 586 points
As many as 2,712 stocks declined while 1,306 advanced and 151 remained unchanged on the BSE. Besides, persistent selling by foreign investors added to the gloom, according to experts. In a volatile trade, the 30-share BSE Sensex tumbled 585.67 points or 0.72 per cent to settle at 80,599.91. During the day, it dropped 690.01 points or 0.84 per cent to 80,495.57. Mumbai, Aug 1 (PTI) Equity benchmark indices Sensex and Nifty declined sharply for the second straight session on Friday, tracking deep losses in pharma, metal, and IT stocks amid trade-related concerns and widespread selling pressure in global markets. The 50-share NSE Nifty declined 203 points or 0.82 per cent to 24,565.35. 'The benchmark index Nifty wrapped up its fifth consecutive week in the red — its longest losing streak since August 2023, raising eyebrows across the street…Despite making multiple attempts to scale up, the index has struggled to hold ground, only to be met with selling pressure each time. 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US President Donald Trump unveiled sweeping new tariffs on dozens of countries, including 25 per cent duties for goods from India, marking a new era of American protectionism that triggered fresh tensions and concerns over a much wider disruption in the global trade landscape. From the Sensex firms, Sun Pharma tumbled 4.43 per cent after the company reported a 20 per cent year-on-year decline in consolidated net profit to Rs 2,279 crore for the first quarter ended June 30, 2025. Tata Steel, Maruti, Tata Motors, Infosys, Bharti Airtel and Tech Mahindra were also among the laggards. However, Trent, Asian Paints, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Reliance Industries were the gainers. The BSE smallcap gauge dropped 1.59 per cent, and the midcap index declined by 1.37 per cent. Healthcare tanked 2.44 per cent, telecommunication (2.41 per cent), metal (1.94 per cent), oil & gas (1.91 per cent), teck (1.83 per cent), IT (1.81 per cent), and realty (1.78 per cent). 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On Thursday, the Sensex declined 296.28 points or 0.36 per cent to settle at 81,185.58. The Nifty dropped 86.70 points or 0.35 per cent to 24,768.35. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
New Indian Express
2 days ago
- New Indian Express
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