Nalanda Securities is bullish on Kotak Mahindra Bank recommended buy rating on the stock with a target price of Rs 1554 in its research report dated May 01, 2019.
Nalanda Securities' research report on Kotak Mahindra Bank
Deposits grew 5.6% QoQ to 2.26 trillion. CASA improved by 9.4% QoQ to 1.18 trillion while term deposits rose 1.8% QoQ to 1.07 trillion. CASA ratio came at 52.5% v/s 50.7% QoQ, one of the highest among its peerset.
Outlook
We value bank at FY20E P/ABV of 4.5x and subsidiary at INR 257 per share, arriving at a target price of 1554, implying an upside potential of 12.2% from current levels.
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