Prabhudas Lilladher (PL) has retained 'Accumulate' on Kotak Mahindra Bank with target price of Rs 1,430 as against current market price (CMP) of Rs 1,396 in its report.

Commenting on the investment rationale, the stock broker said, "Kotak's Q3FY15 consolidated PAT of Rs 7.2 billion was ahead of expectations on better lending business profitability. Loan growth was robust on better demand from both retail as well as agriculture segment, while bank remained cautious on growing its CV book and auto loans where in the competition has increased significantly. New to bank customer addition has been robust which has kept CASA growth healthy as well has helped loan growth momentum.

''We believe, faster than anticipated loan growth coupled with stable margins will enable the bank improve upon its leverage and hence, improve ROEs going ahead," it added. 

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