Kotak Mahindra Bank Ltd drops for fifth straight session

Kotak Mahindra Bank Ltd fell for a fifth straight session today. The stock is quoting at Rs 409.7, down 1.32% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.9% on the day, quoting at 24699.2. The Sensex is at 79712.32, down 1.94%.Kotak Mahindra Bank Ltd has eased around 1.47% in last one month.Meanwhile, Nifty Bank index of which Kotak Mahindra Bank Ltd is a constituent, has eased around 0.7% in last one month and is currently quoting at 60529, down 1.5% on the day. The volume in the stock stood at 83.59 lakh shares today, compared to the daily average of 154.19 lakh shares in last one month.

The benchmark March futures contract for the stock is quoting at Rs 411.9, down 1.36% on the day. Kotak Mahindra Bank Ltd jumped 6.99% in last one year as compared to a 11.66% rally in NIFTY and a 23.91% spurt in the Nifty Bank index.

The PE of the stock is 30.51 based on TTM earnings ending December 25.

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