India's Kotak Mahindra Bank gains after higher Q2 advances; Goldman Sachs reiterates 'buy'
06/10/2026 05:39
BUZZ-India's Kotak Mahindra Bank gains after higher Q2 advances; Goldman Sachs reiterates 'buy' ** Shares of India's Kotak Mahindra Bank KTKM.NS rise 3.3% to 429.80 rupees
** Kotak Mahindra reports 24.7% rise in net advances for Q2FY27** Goldman Sachs reiterates "buy" with PT of 540 rupees on stronger-than-expected Q2 updates
** Raises earnings estimates to 19% EPS CAGR over FY26-29, citing strong deposit growth and organic loan growth
** Notes organic loans rises 19% YoY from 15% last quarter; expects momentum to continue supported by retail lending, SME lending and commercial banking** Stock rated "buy" on avg by 37 analysts, with median PT of 470 rupees - data compiled by LSEG
** Stock down 5.5% YTD
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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