Kotak Mahindra Bank jumps 3.7% after strong Q2 loan, deposit data
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- ✓Kotak Mahindra Bank shares rose 3.7 per cent on Tuesday morning after the lender reported strong loan and deposit data for the September 2026 quarter.
- ✓Net advances grew 24.7 per cent year-on-year to ₹5,77,094 crore.
- ✓Analysts at Citi said, "advances growth came in well ahead of their estimate of 20.9 per cent."
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- India Economy
Shares of Kotak Mahindra Bank rose sharply on Tuesday morning, trading at ₹431.30 on the NSE by 10.40 AM, up ₹15.30 or 3.68 per cent from Monday's close of ₹416. The stock opened at ₹422, touched a high of ₹434.40 and has seen traded volumes of 153.20 lakh shares worth ₹658.94 crore so far in the session. Deliverable quantity stands at 57.14 per cent, suggesting a meaningful portion of buying is positional.
The move comes a day after the bank filed its provisional deposits and advances data for the September 2026 quarter with BSE and NSE. Net advances at end of period stood at ₹5,77,094 crore, up 24.7 per cent year-on-year and 12.7 per cent quarter-on-quarter. Total deposits grew 23.2 per cent YoY and 13.7 per cent QoQ to ₹6,51,491 crore. The numbers were boosted by FCNR(B) deposits of $5.78 billion (approximately ₹55,344 crore) mobilised under the RBI's swap facility, and corresponding advances of $1.68 billion (~₹16,110 crore) from the bank's international branches.
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