Kotak Mahindra Bank shares climb nearly 5% after Q4 earnings

Shares of Kotak Mahindra Bank on Monday rallied nearly 5 per cent after the company reported a 25 per cent growth in its March quarter net profit.

Shares of Kotak Mahindra Bank on Monday rallied nearly 5 per cent after the company reported a 25 per cent growth in its March quarter net profit.

The stock climbed 4.85 per cent to ₹1,622.35 on the BSE.

On the NSE, it jumped 4.90 per cent to ₹1,622.50.

It emerged as the biggest gainer among the BSE Sensex and NSE Nifty firms.

Also Read: REC, Supreme Industries, and Cholamandalam Investment and Finance Company: Three stocks that outperformed in the week ended May 3Kotak Mahindra Bank on Saturday reported a 25 per cent growth in its March quarter net profit at ₹5,302 crore, limited by a drop in the core income due to narrow interest margins.

On a standalone basis, the lender's Q4 net profit grew 18 per cent to ₹4,133 crore.

The FY24 consolidated net profit grew 22 per cent to ₹18,213 crore.

For the reporting quarter, its core net interest income increased 13 per cent to ₹6,909 crore on the back of a 20 per cent loan growth and a narrowing of the net interest margin to 5.28 per cent.

Like (0)
Previous May 7, 2024 4:00 pm
Next May 7, 2024 4:01 pm

Related posts

  • ↑6.4%! Shenzhen’s first quarter economic “report card” is here

    According to the latest data released by the Shenzhen Bureau of Statistics, according to the unified accounting results of Guangdong Province’s GDP, Shenzhen’s GDP in the first quarter of 2024 was 831.498 billion yuan, a year-on-year increase of 6.4%. Among them, the added value of the primary industry was 498 million yuan, a year-on-year increase of 0.6%; the added value of the secondary industry was 281.232 billion yuan, a year-on-year increase of 10.3%; the added value of the tertiary industry was 549.768 billion yuan, a year-on-year increase of 4.5%.

    US stock news April 25, 2024
  • Shyam Metalics expands rail infrastructure at Odisha plant

    Shyam Metalics and Energy Limited (SMEL), expanded its rail infrastructure at its integrated steel plant in Pandloi, near Rengali, Sambalpur district, Odisha. This initiative, is part of the company’s long-term strategy for sustainable growth and efficient operations.

    US stock news May 27, 2024
  • Oberoi Realty climbs 9%, hits 52-week high

    Shares of Oberoi Realty climbed nearly 9 per cent on Thursday’s trade. The company’s consolidated net profit for the March quarter of 2024 increased 64 per cent and announced plans to raise up to ₹4,000 crore through issuance of equity shares and non-convertible debentures.

    US stock news May 16, 2024
  • Will Trump’s “hush money” case go to trial today? Will it change the outcome of the election?

    Monday Eastern Time is another landmark day in American political history: A U.S. court will hear former U.S. President Trump’s “hush money” case, which means he will become the first former U.S. president to face a criminal trial. . Although it is widely believed that the case tried on Monday is the least impactful of the four criminal prosecutions faced by Trump, it is also the only case in which Trump will face a criminal trial before the US election in November this year. If Trump is convicted, not only may he be imprisoned, but it will also make the public doubt his ability to lead the country, affect his support among middle voters, and thus may change the results of the general election in November this year. In addition, since the trial process of the “hush money case” is expected to last 6 to 8 weeks, this means that Trump will have to appear in court four days a week for nearly two months, which may delay his Campaign schedule. For this reason, the Trump campaign dismissed the trial…

    US stock news April 15, 2024
  • Musk calls on the Fed to cut interest rates: It will bring substantial benefits to low-income people

    Tesla CEO Elon Musk responded to a post by Rick Rieder, chief investment officer of global fixed income at Blackstone Group, arguing that the Federal Reserve should start cutting interest rates.

    US stock news May 21, 2024
  • CPI leaked 30 minutes in advance? The U.S. Bureau of Labor Statistics made another huge mistake last night!

    Financial News Agency, May 16 (Editor Xiaoxiang) The U.S. Bureau of Labor Statistics (BLS) inadvertently released the April Consumer Price Index (CPI) data 30 minutes early on Wednesday.

    US stock news May 16, 2024