Continued strong sequential growth momentum and expectation of qualitative commentary on growth beyond FY22 should help sustain the rally in IT stocks
Shares of the public sector lender traded almost flat at Rs 152.85 in the early deals on August 27, Friday.
The bank last month posted a nearly three-fold jump in its net profit at Rs 1,177 crore for the quarter ended June 30
Asset quality of the lender deteriorated during the quarter with the percentage of gross non-performing assets to gross advances moved higher to 9.79%
Emkay Global Financial Services holds a 'Buy' call on Kotak Mahindra Bank with a target price of Rs 2,000