Sell Kotak Mahindra Bank With Stop Loss Of Rs 845

Sell Kotak Mahindra Bank With Stop Loss Of Rs 845Stock market analyst Rajesh Satpute is of the view that investors can 'sell' Kotak Mahindra Bank stock with target of Rs 780.

According to analyst, the interested investors can sell the stock with stop loss of Rs 845.

Today, the shares of the bank opened at Rs 823.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 878 and a low of Rs 686.30 on BSE.

Current EPS & P/E ratio stood at 39.56 and 20.59 respectively.

Turning the latest among lenders raising depository rates following the RBI's monetary action early this week, Kotak Mahindra Bank has lifted its depository rates by 0.25% across majority of the maturities.

Kotak Mahindra Bank has raised rates for all tenures a quarter %age except in 271 days to below 1-year maturity, where the rate of interest has been lifted by 0.5%.

Also, the interest rates for 7-14 days deposits surged to 3% as against 2% previously to alter it in proportion to savings deposit rate.

Kotak Mahindra Bank's Group President, Treasury, Mohan Shenoy said, "We have increased deposits in majority of the maturities by 0.25 per cent in view of the RBI policy rate hikes early this week and considering the current market situations."