Kotak Mahindra Bank: KMB Q4 miss leads to rating downgrades; stock price targets
The March quarter results of Kotak Mahindra Bank Ltd (KMB) missed analyst estimates on net interest income (NII), pre-provision operating profit (PPOP) and profit after tax (PAT) fronts, triggering rating downgrades by a couple of brokerages.
Stock analysts said the bank’s asset quality improved in Q4, slippage fell for a second quarter in a row and PCR also moved up from 73 per cent to 78 per cent, but rich valuation multiples, following a recent rally, cap upside potential on the stock.
