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<ul><li><keyword id="46013" type="CITY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword>’s share price is up by more than 10% today morning after it posted its earnings yesterday. </li><li>Analysts are optimistic that the bank’s asset quality and decline in provisioning expenses will help it ride through the next year.</li><li>Kotak Mahindra Bank may also possibly be included in the <keyword id="48670" type="CITY" weightage="20" keywordseo="Morgan-Stanley">Morgan Stanley</keyword> Capital Investment (MSCI) Global Indices as the latter revises its foreign ownership limits (FOL). </li></ul>Kotak Mahindra Bank’s share price has skyrocketed by 10% on the back of bullish commentary and target upgrades from brokerages. The bank posted a profit of 27% in the second quarter and its net interest income grew by 17%. <br /><br />  <div type="image" title="Copy of KMB1" msid="78887422" hostid="261" caption="&amp;lt;p&amp;gt;Kotak Mahindra Bank&amp;#39;s stock over the last one month&amp;lt;/p&amp;gt;"></div><br />“We increase our FY21 and FY22 earnings by 27% and 20% (respectively), aided by steady revenues and sharp decline in provisioning expenses,” said brokerage Motilal Oswal in its report. It upgraded its rating of Kotak Mahindra bank to ‘buy’, following a gap of 10 quarters.<br /><br /><div type="Article" hostid="261" msid="78869757" title="Kotak Mahindra Bank still on ‘alert’ as profit improves 27% over the last three months" mstype="2" mssubtype="0"></div><br /><strong>Potential MSCI inclusion boost<br /></strong>Kotak Mahindra Bank may also possibly be included in the Morgan Stanley Capital Investment (MSCI) Global Indices as it revises its foreign ownership limits (FOL). This comes after Foreign Portfolio Investor (FPI) limits for Indian companies were relaxed to the sectoral limit. <br /><br />“Stocks that are being included tend to outperform in the run-up in their inclusion in key indices. Further, we observe that MSCI India index tends to outperform before and post the announcement,” the Morgan Stanley report said. It expects MSCI India to see passive inflows of $2.5 billion on the back of this move. <br /><br />Even though Kotak Mahindra Bank’s stock is up nearly 25% over the last one month, it still has to recuperate from the impact of COVID-19. As compared to January — before Prime Minister Narendra Modi announced a nation-wide lockdown to prevent the pandemic from spreading — the share price is down over 5%.<br /><br /><div type="image" title="KMB1" msid="78887454" hostid="261" caption="&amp;lt;p&amp;gt;Kotak Mahindra Bank&amp;#39;s share price since January&amp;lt;/p&amp;gt;"></div><br /><strong>Brokerages bullish post Q2 earnings<br /></strong>“With a strong liability franchise in place, high capital and steady asset quality keeps our view constructive, although balance on loan growth has to improve from here on,” Prabhudas Lilladher analysts said in a note.<br /><br /><table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerages on Kotak Mahindra Bank<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,650<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,634<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,503<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YES Securities<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 1,6870<br /><br /></td></tr></tbody></table><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/science/space/news/china-launches-three-new-spy-satellites-amid-border-dispute-with-india-and-tensions-in-the-south-china-sea/articleshow/78886330.cms">China launches three new spy satellites amid border dispute with India and tensions in the South China Sea</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms">EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a><br /><br /></strong><a href="https://www.businessinsider.in/finance/banks/news/kotak-mahindra-bank-q2-results-show-profit-up-by-27/articleshow/78869757.cms"><strong>Kotak Mahindra Bank still on ‘alert’ as profit improves 27% over the last three months</strong></a>

Kotak Mahindra Bank surges 10% on earnings upgrades and potential MSCI inclusion

Mumbai, Apr 22 () The board of private sector lender Kotak Mahindra Bank (KMB) on Wednesday approved a proposal to raise capital through issuance of 6.5 crore shares.<p> According to the current price of its shares, sale of 6.5 crore shares will entail raising up to Rs 7,500 crore.</p><p> The capital raising may help the bank's promoter group led by its chief executive Uday Kotak reduce its holding in the bank to comply with a plan mandated by the Reserve Bank of India (RBI). As part of the bank's plan approved by the RBI, the lender is required to get down the promoters' stake to 26 per cent from the over 30 per cent held as of December 2019.</p><p> The approval involves sale of 6.50 crore shares of a face value of Rs 5 each either through a private placement of shares, a follow-on public offering (FPO), qualified institutions placement (QIP) or a combination thereof, the bank told stock exchanges.</p><p> The markets have been very volatile because of the coronavirus pandemic and there are also questions about the long-term economic impact of the pandemic in India, with many analysts predicting a contraction in the economy.</p><p> In a recent report, global ratings agency Standard &amp; Poor's said Kotak Mahindra Bank can weather the challenges which will be posed by the infections and affirmed its rating on the lender.</p><p> "The bank will be able to withstand our current expectations of a deterioration in operating conditions over the next 12-24 months. This is due to its above-industry-average risk management, earnings and capitalization buffers, and improving funding profile," the rating agency had said.</p><p> The bank had last raised core capital in 2017, when it raised Rs 5,800 crore through the QIP route.</p> Its shares were trading 1.86 per cent up at Rs 1,151.50 apiece on the BSE at 1315 hrs.  AA  HRS

Kotak Mahindra Bank's board approves fundraising proposal; to raise about Rs 7,500 crore

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Thomson Reuters</span></p></div><p></p></div></div>Via Dave Lutz at JonesTrading, here's a quick guide to what traders are talking about on Monday morning:</p><p style="padding-left: 60px;">Good Morning!   US futures are off small, being helped by M&amp;A (JCI for TYC) despite Oil's cover bid evaporating.  Expect thinner trading conditions, as many in New York have had their commutes impacted by this weekend's blizzard.   Europe is meandering around unchanged, as Banks are getting hit across the continent, along with Oil and gas companies leading to the downside.  Yield sectors are generally outperforming, and most exchanges are seeing average volume.  2 outliers are Italy, which is hit for 1% as Financials resume their plunge, while Greece is outperforming on S&amp;P's late <span class="aBn" data-term="goog_1692196632"><span class="aQJ">Friday</span></span> upgrade.   The FTSE is unchanged, with Energy Companies and retailers (Kingfisher) weighing, countered by a nice bounce in Healthcare stocks.   Over in Asia, Stabilizing currencies helped China/HK gain ~1% with coal/steel names outperforming (more overcapacity cut chatter) - Nikkei bounced 1% on continued short covering ahead of the BoJ - while Aussie closed up nearly 2%, getting back upside of 5,000 as Energy Stocks jumped.  All Asian Emerging Markets closed better.<span> </span></p><p style="padding-left: 60px;">In addition to sharp pension rebalancing flows (MS notes January has seen the largest monthly gap between stock and bond returns, around 11%, since October 2008), we have positioning ahead of the  Fed <span class="aBn" data-term="goog_1692196633"><span class="aQJ">on Wednesday</span></span> and the Bank of Japan <span class="aBn" data-term="goog_1692196634"><span class="aQJ">on Friday</span></span> dictating flows.   Treasuries are starting with a slight bid early, while the Euro is shrugging off a 11month low German Ifo sentiment read to gain ground against the Greenback.   The Yen is bouncing a bit after last week's sharp surge, will be key for equity bulls for the Yen to hold 118 today.   We have a solid bid still in Metals, with Platinum gaining 2%, Silver 1%, Gold back over $1100 and copper adding to its 2week highs - while Oil is retreating from its best 2day rally <span class="aBn" data-term="goog_1692196635"><span class="aQJ">in 7 years</span></span>.  Natty has a bid to it on the sharp cold weather here in the northeast, while the grain complex finds itself under pressure to start the week. <span> </span></p><p style="padding-left: 60px;">Very quiet on the Catalyst Calendar today, with only the Dallas Fed scheduled at <span class="aBn" data-term="goog_1692196636"><span class="aQJ">9:30</span></span> today.   We do get a handful of earnings today (DHI, HAL, KMB, and MCD out pre-open and CR, PKG, SANM, STLD, and ZION post-close) - while down in Washington, Federal Offices are closed and candidates will dominate the headlines into Iowa next week.   The rest of this week does heat up, with FOMC Rate Decision (No Presser), the Bank of Japan Decision , Germnay's GfK Consumer Confidence, a House Committee hearing on developments in the prescription drug market, and Pending and New Home Sales for December expected.   This is also the busiest week of earnings season  - Some big earnings prints upcoming.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/timelapse-jonas-first-blizzard-snow-storm-2016-1">Watch 13 hours of superstorm Jonas in one minute </a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="14MzJlMDE6yu8CHggV1eWxvF44U7iEga" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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Kotak Mahindra Bank surges 10% on earnings upgrades and potential MSCI inclusion

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Kotak Mahindra Bank's board approves fundraising proposal; to raise about Rs 7,500 crore

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