India, May 6 -- JP Morganhas upgraded private sector lender Kotak Mahindra Bank from neutral to overweight, media reports said.

The target price has been raised to Rs 2070 per share, marking a 34 percent increase from the last close, reported Money Control.

JP Morgan stated that the impact after RBI action on F25/26 growth should be minimal. In Q4, the bank demonstrated strong core operating metrics, with headline profit adjusted for one-offs surpassing JPMe by 8 percent. Core PPOP growth stood at +% 12y/y, accompanied by significant fee growth, the news portal reported.

In its latest financial result, the banks PAT for FY24 increased to Rs. 13,782 crore from Rs. 10,939 crore in FY23, up 26% YoY.

PAT for Q4FY24 stood at Rs. 4,133 cror...