BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Edelweiss maintains hold on Kotak Mahindra Bank
While synergy benefits are reflecting in cost metrics, key concern for KMB has been slower revenue traction, largely due to below-trend loan growth. Integration challenges in H1FY17 followed by demonetisation took a toll on 9mFY17 growth. However, Q4FY17 saw marked improvement with loan growth at 5% QoQ, largely on account of around 8% QoQ spurt in business banking. Management stated that integration and demonetisation challenges have ceased and hence the current momentum in business banking and retail will sustain.