Archive · 7 Oct 2026
Kotak Mahindra Bank Shares Rise After HSBC Buy Upgrade
Kotak Mahindra Bank’s shares went up during Wednesday’s trading.
HSBC changed its view of the shares to Buy and set a higher price target.
It pointed to the bank’s recent CEO appointment and expected growth in loans and earnings.
HSBC also raised its earnings-per-share estimates for FY27 to FY29.
The article said an RBI repo rate hike could be an additional positive for the shares.
In Q2 FY26, the bank reported growth in both its loans and deposits.
Its CASA deposits also increased year over year.
Kotak Mahindra Bank shares rose 2% in Wednesday trading, reaching an intraday high of ₹440.70.
At 12:37 p.m., the shares traded at ₹439.40, versus a previous close of ₹431.90.
HSBC upgraded the stock to Buy and raised its target price to ₹520 from ₹430.
HSBC cited the recent CEO appointment and a stronger outlook for loan and earnings-per-share growth.
For Q2 FY26, net advances grew 24.7% year over year to ₹5,77,094 crore, and deposits rose 23.2% to ₹6,51,491 crore.
- Who
- Kotak Mahindra Bank and HSBC.
- What
- Kotak Mahindra Bank shares rose after HSBC upgraded them to Buy and increased its price target.
- When
- Wednesday; the article was published on October 7, 2026.
- Where
- The shares traded on the NSE.
- Why
- HSBC cited the recent CEO appointment and a stronger outlook for loan and earnings-per-share growth.
- HSBC rating
- Upgraded to Buy
- HSBC target price
- ₹520, up from ₹430
- Intraday high
- ₹440.70 on the NSE
- Price at 12:37 p.m.
- ₹439.40
- Previous close
- ₹431.90
- Q2 FY26 net advances
- ₹5,77,094 crore, up 24.7% year over year
- Q2 FY26 total deposits
- ₹6,51,491 crore, up 23.2% year over year
- Q2 FY26 CASA deposits
- ₹2,49,105 crore, up 11.3% year over year