Kotak Mahindra Bank shares tumble 6.4% after Q1 earnings miss, as rising bad loans and shrinking margins worry investors.

• Analysts cut price targets as higher provisions hurt profit; gross NPAs rose to 1.48% from 1.39% YoY.
• Net interest margin fell to 4.65% from 5.02%; further pressure is expected before a gradual recovery in Q3.
• Kotak is now up 11% YTD, but trails the private bank index after the worst single-day fall in over a year.