Kotak Mahindra Bank January-March quarterly Net Profit raised 29.48% to Rs 527 Crore. Bank Income from Interest increased from Rs 967 crore to Rs 1123 crore. On YOY basis the growth in income from interest is 16.3%.
Bank announced one Bonus share for each share to please share holders, after this news a giant leap has witnessed in stock price. Bank Stocks gained 5% traded near Rs 1400. According to Banking analyst Kotak quarterly earnings remains better than expected.
Expert View: Currently valuations of shares are high, advice to buy on dips.
Gold continues to fall, US non-form payroll data is going to declare this week, due to this Gold price has came to 1.5 low level in international market. Silver also traded under pressure.Crude Oil is trading in narrow range. Mentha Oil Price rose.