Kotak Mahindra Bank shares gain 4% after Q2 update; Analysts see stock testing ₹540 levels

Kotak Mahindra Bank’s average net advances expanded 22.1% on an annual basis and 10.5% on a quarterly basis. Its EOP deposits growth came in at 23.2% from last year and 13.7% from the previous quarter, outpacing Citi’s estimate of 20% and 10.8%, respectively.