Kotak Mahindra Bank has underperformed Nifty in the last one week as well as in the last one month.
In the last week, the stock is down about 1.5 percent while Nifty is almost flat. In the last month, the stock is down close to 3.94 percent while the Nifty has gained about 0.7 percent.
The daily trading volume has increased 4 times in the last two weeks from being at Rs 332 crore as of June 10 to Rs 1,323 crore as of Wednesday, June 23. Delivery volume was also interesting on Wednesday, close to 60 percent level.
On a technical level, the stock is priced just above its 200-day moving average (DMA). So, it’s in weak territory.
However, the stock is well poised to gain from here, given the fact that it is above its 200-day moving average (DMA).
Watch the accompanying video of CNBC-TV18’s Abhishek Kothari for more details.
(Edited by : Dipika Ghosh)