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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Kotak Mahindra Bank Limited    500247   INE237A01028

KOTAK MAHINDRA BANK LIMITED

(500247)
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Indian shares jump as metals, financials gain

11/26/2020 | 05:39am EST

BENGALURU, Nov 26 (Reuters) - Indian shares jumped on Thursday in a broad-based rally after a sharp fall in the previous session, as metals and financial stocks rose against the backdrop of an improving economic outlook for the year ahead.

Most sectors settled higher but metals and mining shares rose the most among 13 sectoral indexes, gaining 3.85% to clock their best day in three weeks, in line with a rise in metals prices globally.

The NSE Nifty 50 index ended 1% higher at 12,987.00, rebounding from losses earlier in the session, and a more than 1.5% drop on Wednesday. The S&P BSE Sensex closed 0.98% higher at 44,259.74.

Five financial companies including HDFC Bank and Kotak Mahindra Bank were the top boosts to the Nifty 50, followed by JSW Steel and Tata Steel, which rose 6.1% and 5.0%, respectively.

Sectors, including metals and real estate, have gained sharply this month as investors continue to favour companies seen as likely to benefit from an economic recovery and as foreign money managers pump billions of dollars into Indian equities.

Inflows from foreign institutional investors have reached a record of more than $7 billion this month.

India's economy is expected to recover early next year from recession, but at a modest pace, according to a majority of economists in a Reuters poll.

World markets were trading higher on optimism around vaccines and the incoming Biden administration in the United States. (Reporting by Sachin Ravikumar in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HDFC BANK LIMITED 1.40% 1503.85 End-of-day quote.4.70%
JSW STEEL LIMITED 2.91% 395.6 End-of-day quote.2.14%
KOTAK MAHINDRA BANK LIMITED 2.05% 1886.8 End-of-day quote.-5.44%
NIFTY 50 1.68% 14521.15 Delayed Quote.2.14%
SENSEX 30 1.72% 49398.29 Real-time Quote.1.70%
TATA STEEL LIMITED 2.17% 680.65 End-of-day quote.5.76%
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Financials
Sales 2021 381 B 5 211 M 5 211 M
Net income 2021 93 350 M 1 275 M 1 275 M
Net Debt 2021 - - -
P/E ratio 2021 38,9x
Yield 2021 0,05%
Capitalization 3 737 B 51 044 M 51 055 M
Capi. / Sales 2021 9,80x
Capi. / Sales 2022 8,68x
Nbr of Employees 71 000
Free-Float 70,5%
Chart KOTAK MAHINDRA BANK LIMITED
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Technical analysis trends KOTAK MAHINDRA BANK LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 35
Average target price 1 730,46 INR
Last Close Price 1 886,80 INR
Spread / Highest target 20,8%
Spread / Average Target -8,29%
Spread / Lowest Target -53,4%
EPS Revisions
Managers and Directors
NameTitle
Uday Suresh Kotak Chief Executive Officer, Joint MD & Director
Dipak Brijmohandas Gupta Joint Managing Director & Director
Jaimin Mukund Bhatt Co-President & Group Chief Financial Officer
Karthi Kumar Marshan Co-President & Chief Marketing Officer
Devang Gheewala Co-President & Operations Chief
Sector and Competitors