“ICICI Securities maintains a buy call on Kotak Mahindra Bank with a target price of ₹480, believing any major correction offers a good entry point for medium-term investors. The bank is fundamentally in a sweet spot regarding business growth and asset quality, with valuations appearing comfortable at nearly 2 standard deviations below the mean. While CEO succession uncertainty may create a near-term overhang, a significant impact on the franchise quality or growth prospects is deemed unlikely.”

ICICI Securities Analysis’s track record (trackable calls only): 5 graded calls · 95% CI 0–43%