View on RBI Monetary Policy - Upasna Bhardwaj, Sr. Economist, Kotak Mahindra Bank

"RBI, very correctly so, announced a comprehensive bazooka covering all aspects of the economy by taking measures system-wide both through liquidity, rates and regulatory forbearance (retail as well as for industry) and also targeted measures to manage the corporate bond markets. The measures should help in tiding through the end of the year issues which many banks / institutions were fearing and will go a long way in cushioning the dislocations in various markets. We expect additional scope for 40-50bps of rate cut with any further easing and extension of measures depending on the nature of spread of COVID-19."

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1389 as compared to the previous close of Rs. 1290.15. The total number of shares traded during the day was 286907 in over 16052 trades.

The stock hit an intraday high of Rs. 1419.15 and intraday low of 1255.05. The net turnover during the day was Rs. 385519329.

Source : Equity Bulls

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