Kotak Mahindra Bank gains after Q4 results

Kotak Mahindra Bank rose 1.59% to Rs 732.95 at 14:55 IST on BSE after net profit rose 31.99% to Rs 695.78 crore on 52.27% increase in total income to Rs 4947.32 crore in Q4 March 2016 over Q4 March 2015.

The result was announced during trading hours today, 11 May 2016.

Meanwhile, the BSE Sensex was down 217.98 points, or 0.85%, to 25,554.55 .

On BSE, so far 1.97 lakh shares were traded in the counter, compared with an average volume of 4.70 lakh shares in the past one quarter. The stock hit a high of Rs 736.60 and a low of Rs 715.70 so far during the day. The stock hit a record high of Rs 744.45 on 21 July 2015. The stock hit a 52-week low of Rs 586.50 on 29 February 2016. The stock had outperformed the market over the past one month till 10 May 2016, rising 8.50% compared with 4.45% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 8.15% as against Sensex's 8.48% rise.

The large-cap bank has an equity capital of Rs 917.31 crore. Face value per share is Rs 5.

The merger of ING Vysya Bank with the Kotak Mahindra Bank was effective from 1 April 2015. The results for the quarter and year ended 31 March 2016 include operations of ING Vysya Bank. Hence, the results for the quarter and year ended 31 March 2016 are not comparable with that of the corresponding period of the previous year.

Kotak Mahindra Bank is one of the leading private sector banks in India.

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