Kotak Mahindra Bank, one of the leading private sector lenders, witnessed a sharp rise in share price on Tuesday after it has reported a rise of 29.48% in net profit on year-on-year basis to Rs 5.27 billion for the quarter ended Mar. 31, 2015. Analysts on average had predicted net profit of Rs 4.85 billion.

Total income has increased by 27.26% to Rs 32.49 billion for the quarter ended Mar. 31, 2015 as compared to Rs 25.53 billion in the same period last year.

Shares of Kotak Mahindra Bank are trading at Rs 1,407.30, up Rs 71.05, or 5.32% at the Bombay Stock Exchange (BSE) on Tuesday at 2:26 p.m.

The scrip has touched an intra-day high of Rs 1,407.40 and low of Rs 1,342. The total volume of shares traded at the BSE is 249,420.