BROKERAGE RADAR | INVESTEC ON KOTAK MAHINDRA BANK

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• Maintain buy with target price of Rs 2300

• Be greedy when others are fearful

• Noise will eventually fade away and fundamentals will eventually drive returns

• Believe market is associating the RBI action and management changes with lower growth and returns

• Positioned very well fundamentally in terms of liabilities, asset mix and profitability

• Recent news flow has very little impact on our earnings estimates

• Will keep a close eye on every aspect of fundamentals

• Believe earnings will be stronger than Street expectations


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