Kotak falls; Macquarie downgrades to neutral

Tags: Companies
Shares in Kotak Mahindra Bank fall. The stock was trading down nearly 2 percent to 1034.55 rupees as of 11:35 a.m.

Macquarie downgrades the stock to "neutral" from "outperform."

Brokerage cites Kotak Mahindra's "massive outperformance"

Says stock "looks very expensive to us."

Kotak's shares have risen 17.7 percent since the start of June vs 4.3 percent gain in the Nifty.

EDITORIAL OF THE DAY

  • Sebi’s guidelines for commodity bourses will help farmers get fair price

    As the timeline for the proposed merger of the Forward Market Commission (FMC) with the Securities and Exchange Board of India (Sebi) comes closer, th

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

M S Swaminathan

State must intervene to end farm distress

The persistence of farmers’ suicides inspite of the several programmes ...

Zehra Naqvi

Why lie, not like, drives Facebook

So much has been written about how social media and ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture