Kotak Mahindra Bank stock gains as Q2 advances rise 24.7 percent

Kotak Mahindra Bank stock was trading at INR 440.35 on the NSE on October 7, 2026 at 1:02 p.m. IST, up 1.96 percent from the previous close. The move follows a provisional Q2 FY27 business update that showed advances and deposits growing at double-digit rates, according to Moneycontrol on October 5, 2026.

Q2 advances accelerate

Net advances reached INR 577,094 crore as of September 30, 2026, rising 24.7 percent year over year and 12.7 percent from June 30. Total deposits climbed to INR 651,491 crore, up 23.2 percent year over year and 13.7 percent quarter over quarter, according to Moneycontrol.

CASA deposits increased 11.3 percent year over year to INR 249,105 crore. The update also included USD 5.78 billion of FCNR(B) deposits raised through the Reserve Bank of India's swap facility and USD 1.68 billion of related advances held by international branches, reported Business Today on October 6, 2026.

HSBC raises the bar

HSBC upgraded Kotak Mahindra Bank to Buy and raised its price target to INR 520 on October 7, 2026, citing stronger loan growth, earnings prospects and greater leadership clarity, according to Moneycontrol. HSBC also lifted its EPS estimates for fiscal years 2027 through 2029 by 1 percent to 14 percent.

Goldman Sachs retained its Buy rating and raised its target to INR 540 from INR 416.30, while its published view called for 19 percent EPS compound annual growth from fiscal year 2026 through fiscal year 2029, Business Today reported on October 6, 2026.

Leadership supports the rerating case

The leadership question also moved toward resolution. The Reserve Bank of India approved Anup Kumar Saha as managing director and chief executive officer for a three-year term beginning January 1, 2027, according to Moneycontrol.

The key counterweight is that the September 30 figures remain provisional and subject to limited review by statutory auditors. Detailed net interest income, net interest margin, asset quality and credit costs will determine how much of the balance-sheet expansion reaches reported earnings, according to Ventura Research.

Stock stays below yearly high

At INR 440.35, the stock was 2.84 percent below its 52-week high of INR 453.20 and 27.46 percent above its 52-week low of INR 345.50 on October 7, 2026. Trading volume stood at 23,279,647 shares, while market capitalization was INR 4.4 trillion.

Kotak Mahindra Bank stock was last trading at INR 440.35 on the NSE on October 7, 2026 at 1:02 p.m. IST, with the provisional growth figures and the next earnings release forming the main checkpoints for the valuation case.