desk
Share
News Topical, Digital Desk : Kotak Mahindra Bank's stock has received an upgrade this week. UBS has increased its confidence in the stock and has raised its rating to 'Buy'. Earlier, UBS's rating on the stock was neutral. Along with the rating upgrade, the target of the stock has also been increased. According to the report, the stock's rating has been upgraded due to positive signals regarding business growth. On Friday, the stock closed at 1960 with a gain of more than half a percent.
What is special in the report
UBS has increased its target price for the stock to 2540 in the report which was earlier 2300. This means that the stock can rise by about 30% from here. According to the report, loan growth can get support in the coming time, although pressure on net interest margin is possible. Along with this, credit cost is also expected to come down with improvement in the asset quality of the bank. According to Bloomberg report, 44 analysts are tracking the stock, out of which 27 have advised to buy and 12 have advised to hold, while 5 have advised to sell the stock. UBS's target is the highest among those advising to buy.
How was the performance of the stock The stock closed at 1960 level on Friday with a gain of 0.7%. The stock has seen sharp fluctuations this year. The stock reached a year high of 2301 on 22 April, after which the stock saw a decline and since then the stock has been below 2000 level for most of the time.
Read More: Share news: The company has approved a big acquisition - the stock will be in focus on Monday
--Advertisement--
