Kotak Mahindra Bank shares tumble despite earnings beat. The private sector lender reported a 13 percent year-over-year increase in standalone net profit at 4,027 crore for the March quarter, yet shares declined as much as 5 percent in early trade, making it a top Nifty 50 loser. The stock recovered slightly to trade down 2 percent at 375.85 on the NSE. While the bank's fourth-quarter results beat expectations with strong net interest income growth and sharp provision declines, the market focused on concerns about margin sustainability and growth momentum. Brokerages offered mixed outlooks despite acknowledging the earnings beat. Morgan Stanley retained an overweight rating with a 500 rupee target, while BofA maintained a buy rating at 460 rupees. Macquarie took a neutral stance, also at 460 rupees.
