Axis Bank snatches the crown of 4th largest bank from RBI-hit Kotak in market value terms
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Despite enjoying a higher valuation premium on risk management and overall governance practices, Kotak Mahindra Bank has now lost its status as the fourth largest banking stock on Dalal Street to rival Axis Bank in market value terms. While Axis Bank shares were trading 4% higher on better-than-expected Q4 results, those of Kotak were trading 10% lower following a ban by RBI on digital sourcing of customers and issuance of fresh credit cards. As a result, Kotak's market capitalisation fell to Rs 3.3 lakh crore while that of Axis Bank was higher at Rs 3.4 lakh crore. In Dalal Street's pecking order, HDFC Bank remains India's most-valued bank at about Rs 11.5 lakh crore, followed by ICICI Bank at Rs 7.76 lakh crore and SBI at Rs 7 lakh crore. Kotak and Axis have often been pitched against each other. In terms of market value, both private lenders were at similar levels of Rs 1.5 lakh crore in 2015. Gradually, a sharp rally in Ko...