Neutral on Kotak Mahindra Bank, target price Rs 2070: Edelweiss

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Neutral on Kotak Mahindra Bank, target price Rs 2070:  Edelweiss


has neutral call on Kotak Mahindra Bank with a target price of Rs 2070. The current market price of is Rs 1876.85.

Kotak Mahindra Bank Ltd., incorporated in the year 1985, is a banking company (having a market cap of Rs 374607.55 Crore).

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 14834.99 Crore, up 9.15 % from last quarter Total Income of Rs 13591.41 Crore and up 9.54 % from last year same quarter Total Income of Rs 13542.43 Crore. The bank reported net profit after tax of Rs 2601.67 Crore in latest quarter.

Investment Rationale
KMB’s strong foundations—liability franchise, capital, limited stress—form a perfect launching pad. Non-banking subsidiaries are also scaling up and gaining momentum. Its current P/BVPS target multiple includes a ~10% haircut for excess capitalisation.


Promoter/FII Holdings
Promoters held 26.1 per cent stake in the company as of Sept 30, 2020, while FIIs held 42.2 per cent, DIIs 15.3 per cent and public and others 16.5 per cent.





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