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Unlike HDFC Bank (and ICICI Bank), Kotak Mahindra Bank does not provide a quarterly business report.
The IPO will consist of a fresh issue of 1,93,05,000 equity shares by the company.
The quarter's revenue increased by about 9% to Rs 1,237.5 crore from Rs 1,137.1 crore during the same period last year.
Analysts of IIFL Securities believe the commentary from ISG corroborates their view of 2024 being a year of gradual recovery for the Indian IT services.
Recommendation: Add; Target price: Rs 550
Through FY24-26, it should grow sales at best in sync with the industry, with an inferior operating matrix and capex > OCF.
It comes after discussions with unions on Thursday, when they referred to the move as "a crushing blow".
The bank's loan book saw a 20% YoY growth, driven by a strong 24% YoY growth in the retail segment
Recommendation: Buy; Target price: Rs 1870
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