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Motilal Oswal Report
Kotak Mahindra Bank Ltd. remains well-positioned to deliver steady and sustainable growth, with Motilal Oswal Financial Services reiterating a‘Buy' rating on the stock and maintaining a target price of Rs 470.
The brokerage highlighted that the bank has delivered healthy growth across advances and deposits while maintaining strong asset-quality metrics and one of the highest capital buffers in the sector.
The bank's strategic focus on affluent banking, SME lending, and digital customer acquisition provides a long runway for sustainable growth, though execution on liability mobilization and cross-sell remains critical.
Improving credit costs, stable asset quality, and continued operating leverage should support earnings growth over the medium term.
Management continues to target a business model capable of generating high-teen RoE over time, aided by contributions from subsidiaries, while maintaining prudent risk standards and strong capital buffers.
Motilal Oswal estimates Kotak Mahindra Bank to deliver RoA/RoE of 1.96%/12.1% in FY27.
Reiterates Buy with a target price of Rs 470 (2.1x Sep'27E adjusted book value + Rs 165 for subs).
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