Kotak Mahindra Bank slips ahead of Q3 results

The lender's shares slipped to a low of Rs1224.50, a drop of ~0.5%, in afternoon trade on Monday despite positive Q3 result expectations.

Jan 21, 2019 06:01 IST India Infoline News Service

Kotak Mahindra Bank lost ~1% in intraday trade on Monday ahead of its Q3FY19 results. The lender's shares slipped to a low of Rs1224.50, a drop of ~0.5%, in afternoon trade despite positive Q3 result expectations.

The bank's margins are likely to expand quarter-on-quarter (qoq) as the effect of prior MCLR increases becomes visible. Advances growth is also likely to be strong at 19% year-on-year (yoy). The growth is likely to be broad-based, except in the auto finance and business banking segments. Read more.

Kotak Mahindra Bank Ltd share price is currently at Rs1,231.90, down Rs5.45, or 0.44%, from its previous close of Rs1,237.35 on the BSE.

The scrip opened at Rs1,241 and has touched a high and low of Rs1,247.30 and Rs1,224.05, respectively. So far, 12,41,477 (NSE+BSE) shares were traded on the counter.

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