The country’s banking sector regulator has also permitted the bank to issue fresh credit cards.

Kotak Mahindra was among several financial institutions penalised by the RBI last year for regulatory lapses.

The RBI had imposed restrictions on Kotak Mahindra Bank due to concerns over its IT management. It noted that the bank had consistently failed to address “serious deficiencies and non-compliances,” leading to major outages in 2022 and 2023, which caused inconvenience to customers.

The stock witnessed strong buying demand for second day in a row. The scrip has added 3.03% in two sessions, from its recent closing low of Rs 1,917.35 recorded on 11 February 2025.

In the last one year, the stock has risen by 13.44% while the benchmark S&P BSE Sensex and S&P BSE Bankex have gained 6.52% and 8.50%, respectively, in the same period.

In today’s trading session, the scrip has hit its twenty three-month high of Rs 1,992. Kotak Bank had last neared the 2,000-mark nearly two years ago. The stock had hit a high of 2,063 in May 2023.

On the technical front, the stock’s RSI (14) was currently at 63.574. An RSI reading of 70 or above indicates an overbought condition. A reading of 30 or below indicates an oversold condition.

On the daily chart, the scrip is trading below its 10-day, 20-day and 100-day simple moving averages placed at 1927.32, 1913.79 and 1811.46, respectively.

Kotak Mahindra Bank is the flagship company of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance, and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending, and car finance.

The private lender's net profit jumped 9.97% to Rs 3,304.80 crore on 13.86% rise in total income to Rs 16050.38 crore in Q3 FY25 over Q3 FY24.