News Overview

The gross non-performing assets (NPA) ratio improved slightly, dropping by 0.25% to 2.88%, while advances grew by 15%.

As of 3:27 pm, the IPO was subscribed 3.06 times. The retail portion had received maximum bids being oversubscribed 4.81 times.

The IPO consists of an offer-for-sale (OFS) of 48 lakh equity shares valued at Rs 721.44 crore, at the higher end of the price band

Additionally, the result fell short of street projections of Rs 956 crore. Operating revenue fell to Rs 15,635 crore, a 2% YoY decrease.

Compared to 47,985 units during the same period last year, housing sales decreased to 41,871 units in the third quarter of the 2024 calendar year.

The broader market is reflecting mixed results, with the BSE Midcap index slightly down by 0.99% and the BSE Smallcap index decreasing by 0.95%

Kotak's net NPA increased to 0.43% from 0.37% YoY at September's end, while its GNPA increased to 1.49% from 1.72% YoY.

As of 1:40 pm, the shares had recovered slightly and were trading at ₹1,017.30 down nearly 7%.

It was a light week in terms of data, but the Fed speak suggests that the Fed is prepared for any eventuality

Markets were subdued this week; but without the bank rally, the cuts in the market would have been much deeper