Kotak Mahindra Bank – Low Cost Liability Banking Franchise

My comment was “Stock wont’ double every 3-4 years” which incidentally is what I said in 2021 about it.

So yes it may double from here in 3-4 years (and this time I’m fairly confident) given its long underperformance. But then whether it will keep doubling every 3-4 years is anyone’s guess as it will translate into 18-24% average return every year in stock prices. And for large banks it’s very difficult to grow stock prices at double the rate of gdp unless there is significant rerating of valuations.