INSUBCONTINENT EXCLUSIVE:
Most brokerages have maintained positive ratings
CLSA said that valuations of Kotak Mahindra Bank are rich, but it sees a 24 per cent compounded growth over FY18 and FY21.
Nomura expects
recent stock outperformance (over 30 per cent year to date) has led to valuations moving to 25 times June 20 earnings, which is demanding;
the target price unchanged at Rs 1,400
