By Bharath Rajeswaran and Indranil Sarkar (Reuters) -Indian shares inched higher on Monday, led by gains in Kotak Mahindra Bank and Wipro after their better-than-expected quarterly earnings, while concerns over the U.

The consolidated net profit of Kotak Mahindra Bank increased by 10.22 per cent to Rs 4,701 crore in the third quarter of FY25, from Rs 4,265 crore in the same period last year. The private lender saw a 6.8 per cent decline in the reporting quarter, with a net profit of Rs 5,044 crore for the July-September quarter Q2 FY25.

Five leading brokerages have upgraded Kotak Mahindra Bank to ‘buy’ following its Q3FY25 results, with target prices ranging from ₹2,020 to ₹2,111. The private sector lender reported a 10 per cent year-on-year increase in net profit at ₹3,305 crore for the third quarter.

(Reuters) -Indian shares opened higher on Monday as Kotak Mahindra Bank's results boosted private banks and Wipro's better-than-expected quarterly profit helped lift IT stocks. The Nifty 50 rose 0.38% to 23,

Motilal Oswal, YES Securities, JM Financial and Nuvama have upgraded KMB to ‘Buy’, with an upgraded target price of up to ₹2,150.

Shares of Kotak Mahindra Bank on Monday jumped nearly 10 per cent after the firm posted a 10 per cent growth in its consolidated net at Rs 4,701 crore, aided by the performance of capital markets-linked arms.

Wipro Q3 earnings beat estimates, revenue grows 0.4% QoQ. Tech Mahindra Q3 profit falls 21.4% QoQ to Rs 983 crore . Kotak Mahindra Bank Q3 profit grows 10% YoY to Rs 3,305 crore. RBL Bank Q3 profit plunges 86% YoY to Rs 33 crore on sharp increase in provisions.