Kotak Mahindra Bank shares fall; Macquarie downgrades to 'neutral'

Written by Reuters | Updated: Aug 27 2014, 16:01pm hrs
Kotak Mahindra Bank falls 1.4 percent.

Macquarie downgrades the stock to "neutral" from "outperform." Brokerage cites Kotak Mahindra's "massive outperformance"

Says stock "looks very expensive to us."

Kotak Mahindra Bank Ltd's shares have risen 17.7 percent since the start of June vs 4.3 percent gain in NSE.