Goldman Sachs raises target for Kotak Mahindra Bank stock to INR 540.00

Published on 10/12/2026 at 10:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Loans rose 24.70 percent in Q2 FY27, deposits grew 23.20 percent. Kotak Mahindra Bank stock sat 2.46 percent below INR 453.20 on October 12, 2026.

Key points in brief

Goldman Sachs raised its Kotak Mahindra Bank target to INR 540.00 from INR 416.30 on October 6, 2026.
Q2 FY27 net advances grew 24.70 percent year over year to INR 5.77 trillion, while deposits rose 23.20 percent.
The stock was trading at INR 442.05 on NSE on October 12, 2026, 2.46 percent below its INR 453.20 52-week high.
The bank is scheduled to review second-quarter and half-year results on October 24, 2026.

Kotak Mahindra Bank, banking, Goldman Sachs target, Q2 FY27, NSE, BSE Sensex, Illustration mit AI erstellt.

Kotak Mahindra Bank stock was trading at INR 442.05 on NSE on October 12, 2026, while BusinessToday reported on October 6, 2026, that Goldman Sachs had raised its target to INR 540.00 from INR 416.30 and reiterated its Buy rating. The target stands 22.16 percent above the NSE price, using the same currency for both figures.

Three dated milestones

On September 25, 2026, the bank's board approved a 7:6 share-swap ratio for an amalgamation involving two wholly owned subsidiaries, according to Sahi. On October 1, 2026, Reuters reported that Anup Kumar Saha had been approved as chief executive for a three-year term beginning January 1, 2027. On October 5, 2026, Ventura Securities reported provisional Q2 FY27 net advances of INR 5.77 trillion, up 24.70 percent year over year.

Loan growth meets deposit growth

The September 2026 business update showed total deposits of INR 6.51 trillion, up 23.20 percent year over year, while CASA deposits increased 11.30 percent to INR 2.49 trillion. Net advances also climbed 12.70 percent from June 30, 2026, making the quarter-on-quarter acceleration an important counterpoint to the annual comparison.

The funding mix now matters as much as the headline growth rate. FCNR(B) deposits reached USD 5.78 billion as of September 30, 2026, and the bank said the figures were provisional and subject to limited auditor review, according to Ventura Securities.

What will the next results test?

The next detailed report will show whether the 24.70 percent advance growth is translating into sustainable margins and asset quality. The bank's NSE quote was 2.46 percent below its INR 453.20 52-week high on October 12, 2026, while its market capitalization was INR 4.4 trillion.

Upcoming reporting dates

Sahi reported that the board is scheduled to review second-quarter and half-year results on October 24, 2026. The CEO transition is scheduled for January 1, 2027, when Anup Kumar Saha is due to begin his three-year term, as Reuters reported.

Market context remains measurable

Kotak Mahindra Bank's INR 442.05 NSE price was 2.46 percent below the INR 453.20 52-week high and 27.95 percent above the INR 345.50 52-week low on October 12, 2026. The combination of faster advances, 23.20 percent deposit growth and the upcoming October 24 results puts funding quality and margins alongside the Goldman Sachs target.

Market context: Market report BSE Sensex.