Latest news with #KMB
Economic Times
2 days ago
- Business
- Economic Times
Kotak Mahindra Bank shares can fall to Rs 1,950? Brokerages just slashed target prices
Kotak Mahindra Bank shares plunged 7% to a day's low of Rs 1,977.20 on Monday, as the private sector lender's disappointing Q1 results triggered a wave of downgrades and target price cuts from leading brokerages, with some predicting the stock could fall as low as Rs 1,950. ADVERTISEMENT The sell-off followed India's fourth-largest private bank by market value reporting a 7% year-on-year (YoY) decline in standalone net profit to Rs 3,282 crore, missing analyst estimates due to a sharp deterioration in asset quality and significant margin compression. The bank's net interest margin (NIM) dropped sharply by 32 basis points quarter-on-quarter (QoQ) to 4.65%, while specific credit costs surged from 64 basis points to 93 basis points — a 50% rise in value terms over the previous quarter. Credit cost and stress in the MFI segment peaked this quarter and stabilised in the credit card and personal loan segments, the bank's management said. However, they flagged emerging stress in the retail commercial vehicle segment, which requires cautious monitoring. Emkay Global delivered the harshest verdict, maintaining its REDUCE rating with an unchanged target price of Rs 1,950. "Factoring in the 1Q earnings miss, we trim FY26-27E EPS by 4-5% and expect RoA to settle at ~2%. We retain REDUCE on KMB with unchanged TP of Rs1,950, given the rich valuations (2.1x FY27E ABV) and relatively sub-optimal return ratios (RoE@11-12%) vs large peers," the brokerage said. Bernstein also set a target of Rs 1,950 with a Market Perform rating, highlighting the "weak quarter across key metrics—a sharp NIM compression & a multi-quarter high in credit costs driving RoA below 2%." ADVERTISEMENT Also Read | Kotak Mahindra Bank shares plunge over 6% after muted Q1 show. Should you sell now? Morgan Stanley remained relatively optimistic but still cut its target price to Rs 2,600 from Rs 2,650 while maintaining an Overweight rating. The brokerage called it a "soft quarter in a tough macro" and warned that "Q2 will remain tough due to further margin decline." ADVERTISEMENT Nomura lowered its target to Rs 2,150 from Rs 2,200, with a Neutral rating, increasing credit cost estimates by 7-15 basis points and lowering NIM forecasts. "We expect KMB to deliver RoA/RoE of 1.8-2%/11-12% over FY26-28F. KMB (core-bank) currently trades at 1.9x FY27 BVPS, and we see limited upside potential," Nomura analysts said. ADVERTISEMENT Nuvama cut its target to Rs 2,020, slashing EPS estimates by 7-8% for FY 26-27. "At 2.3x BV FY26E, the risk-reward is unfavourable given better earnings by peers," the brokerage bucked the trend, maintaining its BUY rating and Rs 2,550 target price despite trimming FY26 earnings by 5%. "Valuation at 18x FY26E P/E is in line with ICICI & at a slight discount to HDFCB, hence, we see limited scope to re-rate," Jefferies the profit decline, Kotak demonstrated resilience in core business metrics, with loan growth of 14% year-on-year and 4% quarter-on-quarter, while deposits expanded 15% YoY and 3% quarter-on-quarter. ADVERTISEMENT The bank's fee income growth also slowed sharply on a yearly basis, adding to investor concerns about the sustainability of its revenue streams amid a challenging operating expects margins to improve from the third quarter onward, driven by deposit repricing benefits and the recent CRR cut. However, the timeline for recovery remains uncertain, as the banking sector continues to grapple with asset quality pressures and margin headwinds. Also Read | Kotak Bank Q1 results: PAT falls 7% YoY to Rs 3,282 crore. NII up 6% (You can now subscribe to our ETMarkets WhatsApp channel)
New Indian Express
4 days ago
- Entertainment
- New Indian Express
Kerala's cultural, political ethos add depth to the Biennale, says curator Nikhil Chopra
After battling much uncertainty, the Kochi-Muziris Biennale (KMB) is officially making a comeback. Earlier this month, the Kochi Biennale Foundation announced that Nikhil Chopra, a multidisciplinary artist based in Goa, will curate the sixth edition of the much-celebrated art festival. The 110-day event, titled 'For the Time Being', will run from December 12 to March 31, 2026. Nikhil, associated with HH Art Spaces, a Goa-based artist-led organisation he co-founded, interweaves performance, drawing, photography, sculpture, and installation in his works. Between 2014 and 2017, he performed at the second edition of the Kochi-Muziris Biennale, the Bienal de la Habana, the 12th Sharjah Biennial, and documenta 14 in Athens. In this interview with TNIE, Nikhil talks about his journey with the Biennale, his curatorial vision, and his identity as an artist. Excerpts:
The Standard
21-07-2025
- General
- The Standard
'AI for Humans' officially premieres: visionary TV show explores AI's limitless potential in Hong Kong
Hong Kong Institute of Construction opens for enrollment with free ride day on KMB Route 16 tomorrow to facilitate registration for DSE graduates
RTHK
19-07-2025
- Climate
- RTHK
T8 Northeast Signal issued at 12:20am
T8 Northeast Signal issued at 12:20am At midnight, Wipha was about 280km east-southeast of Hong Kong. Image courtesy of the Observatory The Observatory issued the Number 8 Northeast Gale or Storm Signal at 12:20am on Sunday, as Severe Tropical Storm Wipha intensified into a typhoon and edged closer to Hong Kong. At midnight, Wipha was about 280km east-southeast of Hong Kong. It was forecast to move west or west-northwest at about 25km per hour towards the coast of Guangdong, and move "rather close to the vicinity of the Pearl River Estuary". Local winds were expected to reach gale to storm force on Sunday, with frequent heavy squally showers and thunderstorms, the Observatory added. "Depending on the distance between Wipha and Hong Kong, and the change in local wind condition, the Observatory will assess the need for issuing higher tropical cyclone warning signals Sunday morning," senior scientific officer Lee Shuk-ming said. Members of the public have been urged to pay attention to the latest weather information from the Observatory and complete all precautionary measures as soon as possible. KMB and Citybus said overnight services would be suspended from 2am onwards. The MTR announced it would arrange four extra departures for the Airport Express at 1:15am, 1:45am, 2:15am, and 2:45am to take passengers to the city. In terms of cross-boundary travel, the Hong Kong-Zhuhai-Macau Bridge will close at 3:30am, while shuttle buses between Lok Ma Chau and Huanggang Port will continue to provide limited service. Classes of all day schools and child care centres will be suspended on Sunday, the Education Bureau said. The Trade Development Council said the ongoing Book Fair, Sports and Leisure Expo, and World of Snacks in Wan Chai will be suspended. If the Number 8 signal is lowered at or before 4:30pm, the fairs will reopen within two hours.
New Indian Express
18-07-2025
- Entertainment
- New Indian Express
Kochi Biennale Foundation screens ‘The Leopard's Tribe'
KOCHI: The Kochi Biennale Foundation (KBF) screened the acclaimed documentary film, 'The Leopard's Tribe', on Wednesday evening. Directed by Miriam Chandy Menacherry, the 39-minute documentary essays the acquisition of the Aarey forest area adjoining the bustling Mumbai for building a metro car shed. It focuses on development versus conservation, and talks about environmental protection through the inhabitant tribal community. For the original population of Aarey in Goregaon, renowned for the Sanjay Gandhi National Park called the 'Lungs of Mumbai', the big cat is their god of daily worship. Even so, the forest belt is being destroyed for a facility to maintain and repair the local trains that form the core of the megacity's surface transport. The film pans out the message that sustainable construction activities can go hand-in-hand with economic rise and social well-being. KBF showed the film in Edappally, amid the active participation of Kochiites. The screening at the Kerala Museum comes five months ahead of the sixth edition of the Kochi-Muziris Biennale (KMB) by the KBF.
