Kotak Mahindra Bank slips after weak Q3 performance

Kotak Mahindra Bank fell 2.88% to Rs 707.15 at 13:12 IST on BSE after net profit fell 6% to Rs 339.98 crore on 3.86% increase in total income to Rs 2492.01 crore in Q3 December 2013 over Q3 December 2012.

The result was announced during trading hours today, 21 January 2014.

Meanwhile, the BSE Sensex was up 39.43 points, or 0.19%, to 21,244.48.

On BSE, so far 70,000 shares were traded in the counter, compared with an average volume of 46,830 shares in the past one quarter.

The stock hit a high of Rs 730.55 and a low of Rs 705.50 so far during the day. The stock hit a record high of Rs 804 on 30 May 2013. The stock hit a 52-week low of Rs 588 on 28 August 2013.

The stock had underperformed the market over the past one month till 20 January 2014, fell 0.49% compared with the Sensex's 0.59% rise. The scrip had, however, outperformed the market in past one quarter, rising 3.98% as against Sensex's 1.54% rise.

The large-cap private sector bank has an equity capital of Rs 384.80 crore. Face value per share is Rs 5.

On a consolidated basis, Kotak Mahindra Bank's net profit rose 2.43% to Rs 591.25 crore on 6.43% increase in total income to Rs 4,424.50 crore in Q3 December 2013 over Q3 December 2012.

Kotak Mahindra group is one of India's leading financial services conglomerates.

Powered by Capital Market - Live News