Reality check for Kotak Bank stock as growth slows and slippages rise
Kotak Mahindra Bank’s advances grew by only 10% in Q3. Continued fall in growth is a concern
Company’s gross non-performing loans rose to 2.46% of advances, provisions for bad loans also up
Kotak Mahindra Bank Ltd’s investors had priced in a tad better performance by the private sector lender. With the stock having risen handsomely this past year, expectations were running high. But a slip in some of the bank’s operating metrics saw the stock reacting sharply to the results; the Kotak Mahindra stock fell 4.7% on Monday.
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