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Kotak Mahindra Bank Q2 – A rocking combination of quality and growth –

Despite the optically expensive valuation, Kotak Bank is a must-own portfolio stock with a steady return potential, to be added on every weakness

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

For Kotak Mahindra Bank (Kotak Bank, CMP: Rs 2210.9, Market Cap: Rs 4,38,450 crore), its quality and prudence was never in question. However, its overtly cautious stance on growth, since the onset of the pandemic, had frustrated growth-hungry investors. We saw an opportunity in the soft patch and had recommended the Kotak Bank stock in July as a tactical pick at the price of Rs 1,732. The stock’s outperformance vis-a-vis the Nifty and the Bank Nifty since then is…