The stock of private sector bank Kotak Mahindra Bank is witnessing a spectacular rise of 9% today. This rise is being seen after the strong results of the bank in the December quarter. After the strong results, big brokerage firms have also upgraded the rating of the stock after a long time. The profit of Kotak Mahindra Bank has increased by about 10% to ₹ 4,701.02 crores in the third quarter. In the same period of the previous financial year, the bank had a profit of ₹ 4,264.78 crores.

Net profit has decreased by about 7% in the December quarter as compared to ₹5,044.05 crore in the September quarter. The bank's interest income i.e. NII increased by 14.75% to ₹16,633.14 crore. NII was ₹14,494.96 crore in the December quarter of the previous financial year.

Talking about asset quality, the bank management said that slippages in personal loans have become normal. At the same time, slippages have increased in microfinance. After the results, many brokerage firms are looking bullish on this stock. Domestic brokerage firm Nuvama Institutional Equities has said about this stock that growth and quality have improved in the third quarter. The brokerage firm also said that it can prove to be the best performer in the sector. Slight increase in NIM, strong loan growth, strong deposit growth and reduction of slippages on quarterly basis are the biggest positives for the bank. Nomura says that in the third quarter, Kotak Mahindra Bank's loan growth was 15% on an annual basis and deposit growth was 16%. This increase is being seen at a time when macroeconomic conditions are challenging. Kotak Mahindra Bank's NIM has remained almost stable with 4.9% on a quarterly basis. DAM Capital says that the operating internals of the bank have looked better in the third quarter. Also, strong momentum in business growth continues. Slippages have reduced in the December quarter and OPEX efficiency has also been strong, Motilal Oswal has said in his report that operating performance has been strong amid the challenging macroeconomic environment. The removal of restrictions on issuing new cards and the start of the process of adding new customers through online and mobile banking channels will be important in the short term. What should be the strategy on Kotak Mahindra Bank? Nuvama has double upgraded its rating on this stock to Buy . Earlier, the brokerage firm's rating on this stock was Sell. Now the latest target price is ₹2,040 per share. The brokerage firm said that the benefits of growth and quality will be seen. The bank has done a great job after the RBI ban. DAM Capital has upgraded the Neutral rating on this stock to Buy and also raised the target price to ₹2,020 per share. Jefferies has increased the target price on the stock from ₹2,120 per share to ₹2,200 per share. Nomura has set a target price of ₹2,110 per share with a Buy rating on Kotak Mahindra Bank . Secondly, Emkay Global has raised the target price from ₹1,700 per share to ₹1,750 per share along with a Reduce opinion on the stock .