Kotak's contribution was pivotal in guiding the bank through its transition from being an NBFC to obtaining a banking license in 2003 and evolving as one of the most reputed financial organisations in the country, a brokerage said.
Kotak Mahindra Bank's weight change may result in $810 million in inflows, said Nuvama Institutional Equities in a note. The stock was trading 0.27 per cent lower at Rs 1,952.80 on BSE.
Kotak Mahindra Bank Q4 results review: Nuvama Institutional has raised its target on Kotak Mahindra Bank to Rs 2,140 from Rs 1,980 earlier but has retained its 'Hold' on the stock.