Kotak Mahindra Bank hits 52-week high, Q4 earnings eyed

Kotak Mahindra Bank 's shares gained as much as 1.75 percent in morning trade Thursday to touch a 52-week high of Rs 718 ahead of its fourth quarter earnings.

According to the average of the CNBC-TV18 poll, private sector lender's standalone (pure banking business) profit after tax is expected to grow by 23 percent year-on-year to Rs 364 crore and net interest income (NII) is likely to jump 27 percent to Rs 870 crore from Rs 688 crore Y-o-Y.

Meanwhile, its consolidated profit after tax may rise 23 percent Y-o-Y to Rs 641 crore and net interest income is seen increasing 23 percent to Rs 1,291 crore in fourth quarter.

At 10:57 hours IST, the stock was quoting at Rs 715.50, up 1.40 percent on Bombay Stock Exchange.