Kotak Mahindra Bank declined 2.82% to Rs 759.10 at 14:24 IST on BSE, after the bank's consolidated gross non-performing assets surged 61.50% to Rs 1071.56 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was down 320.92 points, or 1.92%, to 16,419.58.
On BSE, 2.67 lakh shares were traded in the counter as against an average daily volume of 2.95 lakh shares in the past one quarter.
The stock hit a high of Rs 783 and a low of Rs 746 so far during the day. The stock had hit a 52-week high of Rs 838 on 16 October 2009 and a 52-week low of Rs 208.05 on 6 March 2009.
The stock has fallen 8.06% in seven trading sessions from a recent high of Rs 825.65 on 16 October 2009.
The large-cap bank stock had outperformed the market over the past one month till 26 October 2009, rising 6.63% as compared to the Sensex's 0.28% rise. It had also outperformed the market in the past one quarter, gaining 22.84% as compared to the Sensex's return of 8.85%.
The bank's equity capital is Rs 346.97 crore. Face value per share is Rs 10.
The current price of Rs 759.10 discounts the bank's Q1 June 2009 annualized EPS of Rs 10.43, by a PE multiple of 78.72.
On a consolidated basis, the bank's net non-performing assets (NPA) advanced 53.94% to Rs 640.32 crore in Q2 September 2009 over Q2 September 2008. The ratio of gross NPAs increased to 3.94% as on 30 September 2009 from 2.73% as on 30 September 2008. The net NPAs as of 30 September 2009 was at 2.39% higher than 1.73% as of 30 September 2008.
Kotak Mahindra Bank's consolidated net profit soared 86.23% to Rs 299.77 crore on 25.05% rise in total income to Rs 2312.91 crore in Q2 September 2009 over Q2 September 2008. On a standalone basis, the bank's net profit spurted 163.02% to Rs 125.91 crore on 9.60% increase in total income to Rs 884.19 crore in Q2 September 2009 over Q2 September 2008. The bank declared its results during trading hours today, 27 October 2009.
On a standalone basis, the bank's net interest income increased 19% to Rs 437 crore in Q2 September 2009 over Q2 September 2008.
Kotak Mahindra Bank, a private sector bank, provides banking and related services in India including car finance, broking, corporate banking, insurance, investment banking, retail lending and others. The bank had 230 full-fledged branches across 135 locations and 410 ATMs as on 30 September 2009.