India's Kotak Mahindra Bank falls after Q1 margin decline
20/07/2026 06:28
BUZZ-India's Kotak Mahindra Bank falls after Q1 margin decline ** Shares of Kotak Mahindra Bank KTKM.NS fall 2% to 382 rupees
** Among top pct losers on Nifty Bank index .NSEBANK, which is down 1.4%
** Co on Saturday reported Q1 net profit up 26% y/y, net interest income up 9% y/y; net interest margin (NIM) fell to 4.53% from 4.67% last quarter
** Nomura ("buy", PT 460 rupees) flags NIM decline and soft growth in net interest income; says PAT beat due to lower operating expenses, credit costs
** Citi ("buy") cuts PT to 465 rupees from 485 rupees; cuts fiscal 2027 and 2028 earnings estimates by 1-2%
** KTKM on avg rated "buy" by 38 analysts; median PT 462.5 rupees - LSEG-compiled data
** YTD, stock down about 13% vs .NSEBANK down 3.2%
(Reporting by Abhirami G in Bengaluru)
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