Kotak Mahindra Bank Ltd. share price fell nearly 3% during early trade on Monday after higher provisions dragged profit in the second quarter. The earnings report came on Saturday.
Kotak Mahindra Bank Stock Movement
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Kotak Mahindra Bank's share price fell 2.7% intraday to Rs 2,122 apiece, before recovering some losses. The benchmark Nifty 50 was up 0.3%. The relative strength index was at 37.
The stock has risen 22% in the last 12 months.
Out of the 43 analysts tracking Kotak Mahindra Bank, 28 have a 'buy' rating on the stock, 11 recommend a 'hold' and four suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price targets is Rs 2,377, which implies a potential upside of 10%.
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