Kotak Bank Shares Soar 4% to 52-Week, Know The Reason
Written By: Mobin
Kotak Mahindra Bank shares rallied over 3%, hitting a fresh 52-week high of Rs 2,151. The surge came on the back of new appointments.
Gain
Bhavnish Lathia has been appointed as the new CTO, while Vyomesh Kapasi has been inducted into the Group Management Council. Both the appointments are effective from March 22.
Appointment
The bank has appointed 6 other officials as senior management personnel, including Pranav Mishra, Phani Shankar and Anupam Kaura.
Others
The RBI recently lifted the restrictions on Kotak Bank on issuing new credit cards and digital onboarding. These restrictions were in place for 10 months.
RBI
According to experts, Kotak Bank stock has come out of a 211-week rectangular pattern and can now move towards the target of Rs 2,400.
Analysis
As for the opportunity, analysts believe that the stock may get a good buying opportunity after consolidation. Alignment with the 10- and 20-day EMAs will be important.
Opportunity
Lathia was leading customer experience and technology for the consumer bank since August 2022, while Kapasi has been overseeing products since February 2025.
Background
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