Nomura upgrades Kotak Mahindra Bank, calls ICICI Bank preferred compounder. Here's why
Published on: March 24, 2026, 10:03 a.m. | Source: The Economic Times
Nomura has upgraded Kotak Mahindra Bank to Buy, making it its top pick among Indian banks, while retaining ICICI Bank as its “preferred compounder.” The call comes amid tightening liquidity, rising funding costs, and delayed NIM recovery across the sector. Kotak shares rose ~2%, ICICI ~1.5%, with targets of Rs 445 and Rs 1,535, respectively.
