JP Morgan upgrades Kotak Mahindra Bank to overweight from neutral; ups target price by 34%
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May 05, 2024 / 07:23 PM IST
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JP Morgan upgraded Kotak Mahindra Bank (KMB) to overweight from neutral, citing supportive valuations post recent RBI actions and senior management departure. The target price has been raised to Rs 2070 per share, marking a 34 percent increase from the last close.
Kotak Mahindra Bank estimated the total impact of the RBI ban at a minimal Rs300-500 crore at the PBT level (2% of F26 PBT at the top end)