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Kotak Mahindra Bank’s Suneet Weling to join BNP Paribas India
Posted on 1st February 2018
Mumbai: Suneet Weling, executive director at the investment banking division of Kotak Mahindra Bank, will join French banking group BNP Paribas’s Indian arm as managing director and head of advisory, capital markets and financing, said multiple people aware of the development.

Weling has advised several Indian and international companies on mergers and acquisitions and capital-raising in India during his seven-year stint at Kotak Mahindra.


Gold only cryptocurrency to have worked, says Uday Kotak
Posted on 30th January 2018
A firm believer in formal banking systems, eminent banker Uday Kotak feels gold is the only alternative currency that has worked ever without any state support and sees no regulatory backing in immediate future for numerous crypto currencies that have cropped up. The most famous among all, bitcoin has been seeing a huge traction lately even as its prices have been extremely volatile, surging to close to USD 20,000 per unit a few weeks ago but only to fall below USD 10,000 soon after.

Kotak Mahindra Bank consolidated Q3 net rises 28% to Rs 16.24 billion
Posted on 20th January 2018
Kotak Mahindra Bank on Friday reported 28.2 per cent rise in its third quarter consolidated net profit on healthy growth in advances.

Profit after tax on a consolidated level rose to Rs 16.24 billion for the quarter ended December 2017, from Rs 12.67 billion in the year ago period.


Gabriel Indian gets buy rating by Kotak Securities
Posted on 19th January 2018
We met with the management of Gabriel India. The company is optimistic of healthy growth in revenues on the back of repeat business and new order wins. Exports and aftermarket continue to stay a key focus area. In exports, the focus is both on OEM’s and aftermarket.Gabriel continues to explore inorganic growth opportunities. Management is committed towards double-digit EBITDA margin. Given land bank at existing plant, company can go for brownfield expansions, if required.

Canada’s SkyPower hires Yes Bank to find buyer for its India solar projects
Posted on 25th October 2017
New Delhi: Canadian solar energy developer SkyPower Ltd has hired Yes Bank to sell a stake in its solar power projects in India, said two people aware of the development.

The move by one of the world’s largest utility-scale solar project developer to sell a stake in its India portfolio is representative of the investment thesis adopted by foreign developers in India’s clean energy space. With financing at the lowest cost becoming key to success, given record low solar and wind power tariffs, the deal-making activity in the Indian clean energy space has gathered pace.


Kotak Mahindra Bank Q2 net profit rises 22% to Rs994 crore
Posted on 25th October 2017
Mumbai: Kotak Mahindra Bank Ltd on Wednesday reported a 22.26% rise in its September quarter net profit, beating analyst estimates, due to higher net interest income and other income.

The private lender reported standalone net profit of Rs994.31 crore in the quarter against Rs813.29 crore a year ago.


Kotak Mahindra Bank market cap tops Rs 2 lakh crore for first time; in 12th spot just behind IOC
Posted on 9th October 2017
India’s fourth-largest private sector lender Kotak Mahindra Bank’s market capitalisation breached 2 lakh crore for the first time ever on Monday. The bank which was in the twelfth place as per the Friday’s closing price of Rs 1,037.15 on BSE just behind India’s largest company by revenue — Indian Oil Corporation — from its eleventh spot. The stock of Kotak Mahindra Bank soared as much as 1.54% to hit the all-time high of Rs 1,053.1 before closing up 1.34% at Rs 1,051 today.

Surprise: Kotak Mahindra Bank emerges 2nd only to HDFC Bank; ICICI Bank pushed to 3rd
Posted on 21st September 2017
Kotak Mahindra Bank (KMB)’s market capitalisation is nudging Rs 2 lakh crore. On Wednesday, the private sector lender’s market cap stood at Rs 1.95 lakh crore while ICICI bank’s m-cap was Rs 1.86 lakh crore. KMB is the country’s second-most valued private lender after HDFC Bank, which commands a market cap of Rs 4.77 lakh crore. Shares of KMB closed Wednesday’s session 0.87 % lower at Rs 1,025.45 on BSE. The stock is up 42.6 % so far in 2017, while the return over one month is 5.58 %. the bank recently raised Rs 5,806 crore through a placement of shares at Rs 936 per share.

Kotak Mahindra Asset sees one more rate cut by RBI after GDP miss
Posted on 12th September 2017
The Reserve Bank of India will have scope to cut benchmark interest rates once again as growth in Asia’s third-largest economy slows and consumer-price gains stay within the central bank’s target range, according to Kotak Mahindra Asset Management Co. “You have a confluence of favorable CPI, lower GDP growth and a necessity to keep rates stable with easing bias,” said Lakshmi Iyer, the Mumbai-based chief investment officer for debt at the money manager. “The scope for one rate cut by March 2018 is definitely there.” Calls for further monetary easing have resurfaced after data on Aug. 31 showed that economic growth in the April-June quarter was the slowest since 2014.

Kotak Mahindra Bank rated ‘Overweight’ by Morgan Stanley, says valuations not cheap but are sustainable
Posted on 29th July 2017
Q1FY18 earnings were 4% above our estimate, mainly driven by securities and insurance business. At the bank, core PPoP growth was 4% above, helped by higher loan growth and strong fees despite one-time costs. Yet non-core income kept the bottom line below our forecast. Asset quality was strong. OW. Q1FY18: Key positives Continued pick-up in revenue growth: Loan growth accelerated (18% y-o-y vs. 15% y-o-y last quarter), margins were broadly stable (4.5% vs. 4.6% last quarter), and fees were strong (+43% y-o-y). Thus, core PPoP growth was 30% y-o-y despite one-time costs related to 811 product launch (adjusted cost growth would be 12% vs. 16% y-o-y reported).

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