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Kotak Mahindra Bank Ltd is up for a fifth straight session today. The stock is quoting at Rs 1746.05, up 0.52% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 1.39% on the day, quoting at 23674.85. The Sensex is at 78197.15, up 1.35%. Kotak Mahindra Bank Ltd has slipped around 1.23% in last one month.
Meanwhile, Nifty Bank index of which Kotak Mahindra Bank Ltd is a constituent, has slipped around 0.46% in last one month and is currently quoting at 50372.9, up 1.25% on the day. The volume in the stock stood at 9.6 lakh shares today, compared to the daily average of 30.86 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 1744.35, up 0.56% on the day. Kotak Mahindra Bank Ltd is up 0.39% in last one year as compared to a 19.56% spurt in NIFTY and a 17.04% spurt in the Nifty Bank index.
The PE of the stock is 24.58 based on TTM earnings ending September 24.
Kotak Mahindra Bank Ltd fell for a fifth straight session today. The stock is quoting at Rs 1708.25, down 0.76% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is down around 0.94% on the day, quoting at 23659.1. The Sensex is at 78030.88, down 0.82%.Kotak Mahindra Bank Ltd has eased around 10.6% in last one month.Meanwhile, Nifty Bank index of which Kotak Mahindra Bank Ltd is a constituent, has eased around 2.17% in last one month and is currently quoting at 51157.8, down 0.9% on the day. The volume in the stock stood at 13.51 lakh shares today, compared to the daily average of 38.43 lakh shares in last one month.
The benchmark November futures contract for the stock is quoting at Rs 1708.2, down 0.91% on the day. Kotak Mahindra Bank Ltd tumbled 3.46% in last one year as compared to a 20.25% rally in NIFTY and a 14.69% spurt in the Nifty Bank index.
The PE of the stock is 24.35 based on TTM earnings ending September 24.
Aarti Industries, Bandhan Bank, Birlasoft, Chambal Fertilizers & Chemicals, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Granules India, Hindustan Copper, IDFC First Bank, IEX, L&T Finance, National Aluminium, PNB, Sail, Tata Chemical.
Results today:
360 ONE WAM, Authum Investment & Infrastructure, Aurionpro Solutions, Bajaj Housing Finance, Balu Forge Industries, Bhansali Engineering Polymers, CG Power and Industrial Solutions, City Union Bank, Cyient DLM, Gravita India, HFCL, Jana Small Finance Bank, Mahindra Logistics, Maharashtra scooters, Rajratan Global Wire, Route Mobile, Solara Active Pharma Sciences, Supreme Petrochem, Swaraj Engines will declare their result today.
Stocks to watch:
L&T Finance reported 16.88% jump in consolidated net profit to Rs 695.58 crore in Q2 FY25 as compared with Rs 595.11 crore in Q2 FY24. Total income increased 15.56% YoY to Rs 4,024.02 crore during the quarter.
Tech Mahindra’s consolidated net profit jumped 46.81% to Rs 1,250.1 crore on 2.36% rise in revenue from operations to Rs 13,313.2 crore in Q2 FY25 over in Q1 FY25. EBITDA stood at Rs 1,750 crore in the quarter ended 30 September 2024, up 11.9% QoQ and up 63.2% YoY.
Meanwhile, the company’s board has declared an interim dividend of Rs 15 per equity share for FY25. The record for the dividend is fixed as Friday, 1st November, 2024. The dividend shall be paid on or before 17th November 2024.
Kotak Mahindra Bank’s standalone net profit rose 4.78% to Rs 3,343.72 crore on 17.71% rise in total income to Rs 15,900.46 crore in Q2 FY25 over Q2 FY24. Net Interest Income (NII) for Q2 FY25 stood at Rs 7,020 crore, up 11% from Rs 6,297 crore recorded in Q2 FY24. Net interest margin (NIM) was 4.91% for Q2FY25.
HDFC Bank reported 5.29% increase in standalone net profit to Rs 16,820.97 crore in Q2 FY25 as compared with Rs 15,976.11 crore in Q2 FY24. Total income rose 9.05% YoY to Rs 85,499.64 crore during the quarter as compared with Rs 78,406.23 crore in Q2 FY24.
Jio Financial Services’ consolidated net profit increased 3.13% to Rs 689.07 crore in Q2 FY25 as compared with Rs 668.18 crore in Q2 FY24. Total income jumped 14.11% to Rs 693.85 crore during the quarter as compared with Rs 608.04 crore in corresponding quarter last year.
JM Financial said that the Reserve Bank of India (RBI) has, with immediate effect, lifted the restrictions imposed by it on JM Financial Products, a material subsidiary of the company. Offering an explanation of the aforesaid regulatory action, the RBI had said that this action was necessitated due to certain serious deficiencies observed in respect of loans sanctioned by the company for IPO financing as well as NCD subscriptions.
JSW Steel said that Jsquare Electrical Steel Nashik, a subsidiary of the company’s joint venture entity, has entered into a share purchase agreement to acquire 100% of equity interest in thyssenkrupp Electrical Steel India. The total purchase consideration for the transaction is Rs 4,051.40 crore, subject to closing adjustments.