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.