Kotak Mahindra Bank Share Price: 11.8% CAGR in 3 Years as the Private Lender Compares With ICICI Bank and Axis Bank
- November 12, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Kotak Mahindra Bank Share Price: 11.8% CAGR in 3 Years as the Private Lender Compares With ICICI Bank and Axis Bank
Kotak Mahindra Bank previous close Rs 487.70. 3-year CAGR 11.8%. Up 1.4x since 10 Nov 2023. ROE 10.89%. Market cap Rs 4,85,457 crore.
Quick Answer
The Kotak Mahindra Bank share price closed at Rs 487.70 on 11 November 2026, a compounded annual return of 11.8% over three years. That compares with ICICI Bank at 18.7% and Axis Bank at 9.1%. The company has a market cap of Rs 4,85,457 crore and a P/E of 22.60 against an industry P/E of 12.66.
The Kotak Mahindra Bank share price has delivered a steady return over three years, and the stock trades at a premium P/E to the bank industry. Kotak Mahindra Bank, headquartered in Mumbai, is one of the largest private sector banks in India and runs subsidiaries in asset management, insurance and securities.
This article compares that run with ICICI Bank and Axis Bank. We calculate the three-year CAGR for all three and set the results beside market cap, valuation and return on equity, using prices adjusted for corporate actions. Banks are best read on price to book and ROE, so those two numbers get extra attention.
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How Much Has the Kotak Mahindra Bank Share Price Returned in 3 Years?
The Kotak Mahindra Bank stock closed at Rs 349.09 on 10 November 2023 and at Rs 487.70 on 11 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 1.40 lakh, which is a CAGR of 11.8%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Kotak Mahindra Bank can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Kotak Mahindra Bank share price has also followed healthy credit growth, the bank’s large base of savings accounts and the growing contribution of its fee-earning businesses.
Kotak Mahindra Bank vs ICICI Bank and Axis Bank: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 10 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 11 November 2026.
| Company | Close on 10 Nov 2023 | Previous close (11 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| ICICI Bank | Rs 938.60 | Rs 1,571.60 | 1.7x | 18.7% |
| Kotak Mahindra Bank | Rs 349.09 | Rs 487.70 | 1.4x | 11.8% |
| Axis Bank | Rs 1,029.20 | Rs 1,336.40 | 1.3x | 9.1% |
The Kotak Mahindra Bank stock ranks second of the three at 11.8%. It sits ahead of Axis Bank (9.1%). The company ahead is ICICI Bank (18.7%). ICICI Bank leads the group, followed by Kotak Mahindra Bank and then Axis Bank. Kotak is the second largest of the three by market cap and carries the highest P/E.
Look at the Kotak Mahindra Bank share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | P/B |
|---|---|---|---|---|---|
| ICICI Bank | Rs 11,27,447 crore | 17.94 | 12.66 | 15.39% | 2.94 |
| Kotak Mahindra Bank | Rs 4,85,457 crore | 22.60 | 12.66 | 10.89% | 2.49 |
| Axis Bank | Rs 4,16,999 crore | 13.88 | 12.66 | 13.04% | 1.82 |
By market cap, ICICI Bank is the largest of the group at Rs 11,27,447 crore, while the Kotak Mahindra Bank stock stands at Rs 4,85,457 crore, about 43% of that size. On earnings, Kotak Mahindra Bank shares trade at a P/E of 22.60 against an industry P/E of 12.66, a premium of about 79%, which signals that the market expects faster earnings growth. Peer multiples are ICICI Bank at 17.94 and Axis Bank at 13.88.
Return on equity is 10.89% for the Kotak Mahindra Bank stock, which ranks third among the three, and the price to book ratio stands at 2.49. Trailing EPS is Rs 21.59. Banks are valued on price to book and return on equity rather than on debt, so these two numbers show how the market prices each lender against the profit it earns on shareholders’ capital.
What Is Driving the Kotak Mahindra Bank Stock?
Kotak Mahindra Bank earns interest on loans to retail customers, small businesses and corporates, and it earns fees from wealth management, cards and investment banking. Its group also includes asset management, life insurance and broking companies, which gives it a wider financial services mix than a pure lender.
The bank has built a strong base of savings and current accounts, which keeps its funding cost relatively low. Its digital banking platform has also helped it add customers outside the branch network.
Followers of the Kotak Mahindra Bank share price usually track loan growth, net interest margin, the share of low-cost deposits and asset quality.
How the Established Players Stack Up
ICICI Bank is a Mumbai-based private sector bank with a large retail loan book and a strong digital presence. It compounded at 18.7% a year, on a market cap of Rs 11,27,447 crore and an ROE of 15.39%.
Axis Bank is a Mumbai-headquartered private sector bank with strength in corporate banking, credit cards and wealth services. It compounded at 9.1% a year, on a market cap of Rs 4,16,999 crore and an ROE of 13.04%.
What Should Investors Track Next?
Three things are worth watching on the Kotak Mahindra Bank share price. First, the pace of loan growth. Second, movement in net interest margin as interest rates change. Third, asset quality across retail and business loans.
At a P/E of 23 and a price to book of 2.49, the stock trades above the industry P/E of 13. Results can move with the credit cycle, so follow quarterly numbers closely.
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How to Compare Bank Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Kotak Mahindra Bank stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Kotak Mahindra Bank share price, the same four checks give a more complete picture than price alone.
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A Premium-Valued Private Lender With a Broad Financial Services Group
The Kotak Mahindra Bank share price compounded at 11.8% a year over three years, ahead of Axis Bank at 9.1% and behind ICICI Bank at 18.7%. Its ROE of 10.89% is the lowest of the three, and its P/E of 22.60 is the highest.
ICICI Bank brings the faster return and the highest ROE at a lower P/E, while Axis Bank brings the lowest P/E. The choice depends on which banking model you prefer.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Kotak Mahindra Bank share price today?
Ans. Kotak Mahindra Bank closed at Rs 487.70 on 11 November 2026, according to NSE data. It has a market cap of Rs 4,85,457 crore and a P/E of 22.60. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Kotak Mahindra Bank stock?
Ans. Kotak Mahindra Bank delivered a price CAGR of 11.8% over three years, moving from Rs 349.09 on 10 November 2023 to Rs 487.70 on 11 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Kotak Mahindra Bank better than Axis Bank?
Ans. Kotak Mahindra Bank delivered a higher three-year CAGR at 11.8% than Axis Bank at 9.1%. Kotak is larger by market cap at Rs 4,85,457 crore against Rs 4,16,999 crore, while Axis Bank has a higher ROE at 13.04% against 10.89% and trades at a lower P/E of 13.88 against 22.60. The better choice depends on your view of each bank.
What does Kotak Mahindra Bank do?
Ans. Kotak Mahindra Bank is a Mumbai-headquartered private sector bank with subsidiaries in asset management, insurance and securities.
What is the return on equity of the Kotak Mahindra Bank stock?
Ans. The return on equity of the Kotak Mahindra Bank stock is 10.89% and its price to book ratio is 2.49. For a lender, ROE and the price to book ratio are the two numbers that show how well the bank turns shareholder capital into profit and how much the market pays for it. Always check the latest results for current figures.
Is Kotak Mahindra Bank expensive compared with the industry?
Ans. Kotak Mahindra Bank trades at a P/E of 22.60 against an industry P/E of 12.66. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which bank stock gave the highest return in 3 years?
Ans. Among the companies compared here, ICICI Bank delivered the highest three-year CAGR at 18.7%, followed by Kotak Mahindra Bank at 11.8%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
