Stock market analysts are of the view that investors can sell Kotak Mahindra Bank Ltd stock with a target price between Rs 767-760.

According to them, investors can sell the stock below Rs 774 with a strict stop loss of Rs 782.

If the stock fell below Rs 755, it may see more weakness.

Today (Jan 27), the stock opened at Rs 202.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 878 and a low of Rs 208.05 on BSE.

Current EPS & P/E ratio stood at 31.61 and 23.88 respectively.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

Kotak Mahindra Bank registered a 2 times increase in its net profit for the three month period ended Dec 31, 2009.

During the period under review, the company’s profit stood at Rs 1,423.84 million as compared to Rs 7,11.25 million for the corresponding period ended Dec 31, 2008.

Interest income surged 3.60% to Rs 8,324.19 million. The bank’s other income saw a growth of 33%, which stood at Rs 145 crore.

The bank’s gross NPAs, excluding those acquired from others, stood at 3.02% of total advances.

Moreover, the bank has decided to launch 16 new divisions by 2011, with six of them coming up in South India.