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Kotak Mahindra Bank's market capitalisation hits Rs 4 lakh crore mark for first time

Share of Kotak Mahindra Bank rose 1.3% to Rs 2,026.55, its all-time high against its previous close of Rs 2,000 on BSE

twitter-logoBusinessToday.In | December 30, 2020 | Updated 15:58 IST
Kotak Mahindra Bank's market capitalisation hits Rs 4 lakh crore mark for first time
The surge took the market cap of the private sector lender past the Rs 4 lakh crore mark.

Kotak Mahindra Bank on Wednesday became the second lender after HDFC Bank to cross the market capitalisation of Rs 4 lakh crore. Share of Kotak Mahindra Bank rose 1.3% to Rs 2,026.55, its all-time high against its previous close of Rs 2,000 on BSE. The surge took the market cap of the private sector lender past the Rs 4 lakh crore mark.

The stock has gained 6.14% in the last 5 days. Kotak Mahindra Bank share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 19.98% in one year and risen 20.24% since the beginning of this year.

In a month, the share has risen 6.51%. Market cap of the private sector lender rose to Rs 4.01 lakh crore.

Total 96,468 shares changed hands on BSE.

Recently, Motilal Oswal ranked Kotak Mahindra Bank as the top wealth creator in terms of consistency in its 25th annual wealth creation study in 2020.

The lender clocked CAGR of 21% from 1995- 2020, the report said.

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"In the 23 three-year rolling periods between 1995 and 2020, Kotak Mahindra has outperformed the corresponding benchmark in 21 of those periods," Motilal Oswal said in the study.

Besides being the most consistent wealth creator, the bank has also emerged the best all-round wealth creator.

"Kotak Mahindra ranks 14th among the Fastest Wealth Creators, 5th among the Biggest and 1st among the Consistent Wealth Creators. This gives it a combined rank of 20, which is the best of the 100," mentioned the study.

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The lender reported strong earnings in Q2 of the current fiscal.

It reported a 26.7 per cent rise in its standalone net profit to Rs 2,184.48 crore in Q2 against net profit of Rs 1,724.48 crore during the same quarter an year ago.

Total income (standalone) rose to Rs 8,288.08 crore in the July-September period as against Rs 7,986.01 crore in the year-ago period.

The bank's asset quality improved on a net basis, with the non-performing assets (NPAs) falling to 0.64 per cent of the net advances as of September 30, 2020, from 0.85 per cent by September-end 2019.

However, gross NPAs rose to 2.55 per cent (Rs 5,335.95 crore) from 2.32 per cent (Rs 5,033.55 crore).

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