Preview on RBI Monetary Policy - December 2020 - Shanti Ekambaram, Group President - Consumer Banking, Kotak Mahindra Bank

"With inflation continuing to trend well above RBI's medium-term target of 4%, there is limited room for a rate cut in the upcoming policy. We have seen encouraging signs of a pick-up in economic activity and a return of consumer demand, buoyed by the festive season. The next few months are critical as it needs to be seen whether demand levels will sustain and the central bank will closely monitor the growth trajectory and high-frequency data prints. Till there is sustained demand recovery, the Monetary Policy Committee is expected to maintain its accommodative stance. On the COVID front, there can be no lowering of our guard as the risks of the virus continue at a large scale. The positive aspect is that vaccines seem likely in the next calendar year – anytime in the first half. All in all, expect the MPC to maintain a status quo on rates with an accommodative bias."

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1901.65 as compared to the previous close of Rs. 1889.8. The total number of shares traded during the day was 371767 in over 21496 trades.

The stock hit an intraday high of Rs. 1924.75 and intraday low of 1846.75. The net turnover during the day was Rs. 704547405.

Source : Equity Bulls

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