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Kotak Mahindra Bank Declares Q1 result for FY12 Net Profit Jumps 27% to Rs.416 crore

By Bhaveek Patel Leave a Comment

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.

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Category: Results Tags: Kotak mahindra bank/ KOTAKBANK/ Q1 Result

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

Comments

  1. Ahmed ansari says

    sir i am having kotak bank 50 share, what targets can i book the profit. should i buy more. reply

    Reply
    • Bhaveek Patel says

      you can buy more kotak bank shares near 510 levels for long term targets as shown in the post.

      Reply
  2. Vinnay says

    Kotak Mahindra is one of the best banks i’ve come across. they just celebrated their 25th anniversary.

    Reply

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