Synopsis
Fund managers are bullish on the large private sector banks, such as HDFC Bank, ICICI Bank, Axis and Kotak. They believe their strong management teams will be able to manage the second wave of Covid-19. Many BFSI funds have concentrated portfolios and these stocks account for nearly half of the scheme.
Agencies
Despite slow credit growth, the top private banks HDFC Bank, ICICI Bank and Axis Bank have reported credit growth of 2-3x of the industry during FY21 at NPA levels that continue to be similar to those of last year.
Mumbai: The data set is decidedly mixed, and the odds don’t appear too bright at least on paper. But analysts still believe BFSI must be in your portfolio and not simply because it makes up the biggest chunk of the broadest indices of India.
Kotak Mahindra Bank shares gain over 2% after Q4 results
Shares of Kotak Mahindra Bank gained over 2 per cent in morning trade on Tuesday after the company reported a 35 percent jump in its consolidated net profit for the January-March quarter.
The stock jumped 2.13 percent to Rs 1,761.20 on the BSE. At the NSE, it rose by 2 percent to Rs 1,761. At the NSE, it rose by 2 percent to Rs 1,761.
Thon Monday reported a 36 percent jump in consolidated net profit to Rs 2,589 crore for the fourth quarter ended March 2021.
The total income rose to Rs 16,175.87 crore during the fourth quarter from Rs 12,084.71 crore in the year-ago period, the bank said in a statement.
HDFC Securities Institutional Research said the prevailing lofty valuations factor in an uptick in credit, cost of funds tailwinds, and normalising credit costs in FY22.
Kotak Bank Q4 Results: Net profit rises 33% YoY, below estimates; asset quality improves
SECTIONS
Last Updated: May 03, 2021, 01:51 PM IST
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Synopsis
The lender reported 8 per cent on-year growth in net interest income to Rs. 3,843 crore for the quarter.
The lender reported 8% on-year growth in net interest income to Rs. 3,843 crore for the quarter.
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NSE
MUMBAI:
Kotak Mahindra Bank on Monday reported a 33 per cent year-on-year rise in net profit to Rs. 1,682 crore for the quarter ended March, missing analysts estimates by a wide margin. Sequentially, the lender’s net profit fell on account of a rise in provisions.
The lender reported 8 per cent on-year growth in net interest income to Rs. 3,843 crore for the quarter, which was also below Street’s estimate.
Kotak Mahindra Bank beats Street estimates in Q3, asset quality improves
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Last Updated: Jan 26, 2021, 11:02 AM IST
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Synopsis
Credit growth although far from galloping was off to a circumspect start at India’s third-most valued lender that added a bit more lustre to its asset base.
Kotak Mahindra Bank s provisions and contingencies stood at Rs 599 crore.
INSIGHTS
NSE
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MUMBAI: Kotak Mahindra Bank Monday beat estimates of net profit with a 16% on-year increase in the December quarter even as credit growth, although far from galloping, was off to a circumspect start at India’s third-most valued lender that added a bit more lustre to its asset base.