Kotak Mahindra Bank slips after announcing Q1 results

Kotak Mahindra Bank was down 2.4% to Rs 763.25 at 13:39 IST on BSE after net profit rose 290.96% to Rs 741.97 crore on 11.69% growth in total income to Rs 5120.03 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during market hours today, 21 July 2016.

Meanwhile, the S&P BSE Sensex was down 114.50 points or 0.41% at 27,801.39.

On BSE, so far 1.88 lakh shares were traded in the counter as against average daily volume of 1.38 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 1.02% at the day's high of Rs 790 so far during the day, which is a record high for the counter. The stock lost as much as 2.79% at the day's low of Rs 760.15 so far during the day. The stock had 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 20 July 2016, advancing 4.19% compared with Sensex's 3.9% rise. The scrip had also outperformed the market in past one quarter, gaining 14% as against Sensex's 8.02% rise.

The large-cap bank has equity capital of Rs 917.89 crore. Face value per share is Rs 5.

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

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