India's Kotak Mahindra Bank hits all-time high, set for biggest monthly jump in 19 months

Kotak Mahindra Bank

30/10/2026 09:12

** Shares of India's Kotak Mahindra Bank KTKM.NS rise 0.85% and hit all-time high of 462.90 rupees, after rising 10.34% during the month of October
** Stock set for best month since March 2025
** Lender appointed insider Anup Kumar Saha as its next CEO on October 1
** On October 24, the bank also reported second-quarter profit up 29%, beating estimates; interest income rose 16%
** Central bank increased repo rate by 25 bps for the first time in 4 years on October 7, signalled further hikes
** Higher interest rates can boost lenders' net interest margins if lending rates rise faster than deposit costs
** KTKM rated "buy" on avg by 37 analysts; median PT is 500 rupees - LSEG-compiled data
** Stock up 4.9% YTD
     

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))