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Kotak Mahindra Bank Shares Surge 4 Percent Following Strong Q2 Business Update
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CNBC TV18•06-10-2026, 11:57
Kotak Mahindra Bank Shares Surge 4 Percent Following Strong Q2 Business Update
- •Kotak Mahindra Bank shares climbed over 4 percent on Tuesday after reporting significant growth in net advances CASA and deposits for the second quarter.
- •Net advances-end of period rose by 24.7 percent year-on-year to reach ₹5.77 lakh crore while total deposits grew by 23.2 percent to ₹6.51 lakh crore.
- •Brokerage firm Citi maintained a buy rating with a target price of ₹465 highlighting strong balance sheet momentum and robust corporate and SME banking performance.
- •Goldman Sachs also kept a buy rating and raised its price target to ₹540 citing strong FCNR(B) deposit flows and attractive valuations.
Key Questions Answered
Kotak Mahindra Bank shares gained over 4% following its Q2 business update, which showed year-on-year growth in net advances, CASA, and total deposits.
Goldman Sachs reiterated a "buy" rating on Kotak Mahindra Bank and raised its price target to ₹540 per share, indicating a 29.8% upside from its previous close.
In the second quarter, Kotak Mahindra Bank's end-of-period net advances rose 24.7% to ₹5.77 lakh crore, CASA deposits increased by 11.3% to ₹2.39 lakh crore, and total deposits grew 23.2% to ₹6.51 lakh crore.
