(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,

The dollar index, which measures the greenback against a basket of six major currencies, decreased by 0.2 per cent to 109.1

The private lender's shares have got several upgrades from brokerage firms following its strong third-quarter performanc.

India's benchmark indexes advanced on Monday, led by gains in Kotak Mahindra Bank and Wipro after their better-than-expected quarterly earnings, while the focus shifts to the U.S. policy framework with Donald Trump set to take oath as the President.

Kotak Mahindra Bank shares climbed 9.22 per cent to hit a high of Rs 1,920.85 on BSE. At this price, the bank commanded m-cap of  of Rs 3,81,928 crore. This was higher than Maruti Suzuki India's Rs 3,

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.

Shares of Kotak Mahindra Bank Ltd. 500247 advanced 9.15% to 1,919.60 Indian rupees Monday, on what proved to be an all-around positive trading session for the stock market, with the BSE SENSEX Index 1 rising 0.