Kotak Mahindra Bank fell 10.87% today to reach levels of 1642 today which was first achieved approximately 4.5 years back. This fall was because of the news that RBI has barred Kotak from onboarding new customers via online, mobile channels. This is because the tech of the company is not up to the mark causing a lot of inconvenience for customers. These are very small problems for big banks like KMB. They can resolve these issues within months. Investing in Kotak will be best during these times keeping in mind the 10% fall, good banking system, the present mood of the market and since the stock is significantly low from its lifetime high, which makes it an interesting buy.
Please do your own analysis before investing.
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Please do your own analysis before investing.
Thank you for reading my idea.
Do like, share and follow.