Kotak Mahindra Bank Ltd, One of the leading private sector bank of India has declared its first quarter result for FY12, profit has jumped 27% year on year basis (YoY) Consolidated net profit was about Rs.415 crore from Rs.327.7 crore again a strong jump. For this quarter, consolidated net interest margins (NIM’s) came in at 5% while standalone net interest income (NII) jumped nearly 18% to Rs.568 crore from Rs.483 crore (YoY) year-on-year basis. Gross non-performing assets (NPA) declined 1.59% against 2.79% as compared to the previous quarter last fiscal year. Also net NPA dipped 0.54% from 1.19% in the year-ago period.
How about the KOTAKBANK stock : Daily charts suggest us that this stock has huge potential growth in short term, as there is up trend we will be looking for buying opportunities as long as the stock remains above the 460 levels for targets as 515 and 555 levels in short term, also placing stop loss below 450 level on closing basis only. Taking a look at slow stochastic we feel that there is much more upside and it completely validate our buy entry in KOTAKBANK stock.