Kotak Mahindra Bank shares tank as RBI curbs seen hurting margins

Shares of Kotak Mahindra Bank hit a 10% lower circuit on Thursday and further fell over 13% after its lower circuit limit we were revised by the exchanges after the Reserve Bank of India's recent crackdown. The stock meanwhile, is trading over a three-year low. Brokerages, meanwhile, have slashed their target price for Kotak Mahindra Bank Ltd.