In a market valuation (MCap) scenario in the banking majors, it is observed that Kotak Mahindra Bank Ltd has surpassed or overtaken ICICI Bank Ltd in market value after the KOtak mahidnra reported strong performance in the September-ended quarter. As per Data of Bombay Stock Exchange, on the top hundred companies by market capitalization as per closing prices of 26 October, the market capitalization of Kotak Mahindra Bank scaled at Rs 2,80,232.77 crore and that of ICICI Bank was Rs 2,79,286.59 crore.
In this perspective, Kotak Mahindra Bank, is now the seventh-largest listed company in India, as on 26 October. The top 6 six companies in market cap include Reliance Industries Limited, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, Infosys and Housing Development Finance Corporation (HDFC Ltd). ICICI Bank is the eighth largest Indian company based on 26 October's closing price of Rs 404.95 on Bombay Stock Exchange.
Today’s Stock View: During the morning session of trade, on the National Stock Exchange, Kotak Mahindra bank were trading higher by over 10.63 percent at Rs.1564-per share on Tuesday. On the other hand, shares of ICICI quoted at Rs 405.65 up by 0.30 percent on Tuesday
On Monday, Kotak Mahindra Bank reported 26.27 percent climb in standalone net profit at Rs 2,184.48 crore for the September quarter from Rs 1,724.48 crore a year ago. Its net interest income rose 16.8 percent to Rs 3,913 crore from Rs 3,350 crore in the corresponding period last year.
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