Kotak Bank
Kotak Bank on a losing streak as analyst downgrades accelerate
Kotak Bank continued its losing streak, shedding 4 percent in morning trade following the news that its joint managing director, KVS Manian, has resigned with immediate effect. The stock was trading at Rs 1559 at 9:35 AM on May 2, 2024. On the contrary, Federal Bank was trading 4 percent higher on anticipation that the exiting Kotak veteran may be joining the bank as managing director. At 9:35 AM, the stock was trading at Rs 169.40.
On the contrary, Federal Bank was trading 4 percent higher on anticipation that the exiting Kotak veteran may be joining the bank as managing director. At 9:35 AM, the stock was trading at Rs 169.4.
Brokerages have lowered their target price on Kotak Mahindra Bank after its joint managing director, KVS Manian, resigned with immediate effect after 29 years of service.