Britannia Industries, Cyient, Escorts, Hexaware Technologies, KPIT Technologies, Mahindra & Mahindra (M&M), M&M Financial Services, Mindtree and Tata Chemicals too hit all-time highs in intra-day trade today.
Kotak Mahindra Bank has surged 6% to Rs 1,288 after the private sector lender reported 27% rise in its consolidated net profit at Rs 17.89 billion for the quarter ended March 2018 (Q4FY18), on healthy growth in advances and higher base of low cost deposits. The bank had profit of Rs 14.04 billion in the year ago quarter.
At the standalone level, the bank reported a 15% rise in its net profit to Rs 11.24 billion, against Rs 9.76 billion in the year ago quarter.
Asset quality improved sequentially as well as on year on year (YoY) basis while coverage ratio improved with credit cost lower than guidance levels.
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