Shares of Kotak Mahindra Bank up 5%; Hits Record-High
Kotak Mahindra Bank shares continued their upward momentum for the third consecutive session on March 24, soaring over 5.03% to clock an all-time high of ₹2,189.40 apiece.
Shares of Kotak Mahindra Bank up 5%; Hits Record-High
Kotak Mahindra Bank shares continued their upward momentum for the third consecutive session on March 24, soaring over 5.03% to clock an all-time high of ₹2,189.40 apiece. The stock ended at ₹2,178.35, up by 4.51%. At this price, the stock has soared by 21.83% on a year-to-date (YTD) basis.
Close to 2.46 lakh shares changed hands on the BSE. This was higher than the two-week average volume of 55,000 shares. The turnover of the counter came at ₹53.15 crore, clocking a market capitalisation of ₹4,33,104.56 crore.
“The stock has done nothing much over the last couple of years. Things are now probably settling down operationally at the bank. Therefore, one can start nibbling into Kotak,” Chakri Lokapriya, Managing Partner at RedStrawBerry LLP, told Business Today.
“Investors should keep a trailing stop loss and look for target prices of Rs 2,200-2,250 levels,” said Vaishali Parekh, Vice-President (Technical Research) at Prabhudas Lilladher.
The stock traded higher than 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 78.67.
According to BSE, the stock has a price-to-equity (P/E) ratio of 25.43 against a price-to-book (P/B) value of 3.91. Its Earnings per share (EPS) came at 85.66 with a return on equity (RoE) of 15.39.
As of December 2024, promoters held a 25.89% stake in the banking company.
