Kotak Mahindra Bank, Axis Bank, and HDFC Bank rose over 1% each while Bank of Baroda, PNB, SBI, and Bandhan Bank saw selling pressure. Bouncing back, Nifty Bank rose 185 points to close at 46,785
Kotak Bank share price: Changes made to the Kotak Mahindra Bank’s top management largely increase the coverage of responsibilities of existing senior management personnel. Nomura views the development positively.
HDFC Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank led the gains while some profit booking was seen in Federal Bank, Bandhan Bank and AU Small Finance Bank.
RIL has recently experienced a notable upward surge. However, a recent breakdown, coupled with substantial trading volumes, underscores the presence of robust resistance levels at higher prices.
This will be Kotak Bank s first quarterly results announcement with Ashok Vaswani at the helm. The veteran banker Ashok Vaswani assumed charge as the managing director and chief executive officer of the bank on January 1, 2024.
The stock hit a 52-week high of Rs 2063 on 31st May 2023, but it failed to hold on to the momentum. The stock closed at Rs 1826 on 8th January 2024, translating into a fall of over 11%.
There have been quite a few lateral hires at the bank who have come with global as well as local experience in areas like technology, customer experience, marketing & branding, data & risk analytics.