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Kotak Mahindra Bank gains on receiving FIPB nod to raise FII limit to 55%

06 Jul 2015 Evaluate

Kotak Mahindra Bank is currently trading at Rs. 1458.00, up by 30.10 points or 2.11% from its previous closing of Rs. 1427.90 on the BSE.

The scrip opened at Rs. 1450.00 and has touched a high and low of Rs. 1458.00 and Rs. 1440.00 respectively. So far 16,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1473.75 on 15-Apr-2015 and a 52 week low of Rs. 847.15 on 11-Jul-2014.

Last one week high and low of the scrip stood at Rs. 1461.00 and Rs. 1342.00 respectively. The current market cap of the company is Rs. 1,32,234.00 crore.

The promoters holding in the company stood at 40.02% while Institutions and Non-Institutions held 38.71% and 21.14% respectively.

Private sector lender, Kotak Mahindra Bank (KMB) has received approval from the Foreign Investment Promotion Board (FIPB) for its proposal to increase foreign direct investment (FDI) in the bank to 55%. FIPB, which takes up FDI proposals where approval is not automatic, gave a green signal to KMB’s proposal in its meeting on July 03, following approval from the Department of Financial Services and the Department of Industrial Policy & Promotion. The proposal was deferred 4 times before.

The bank posted a rise of 29.46% in its net profit at Rs 527.14 crore for the quarter ended March 31, 2015 as compared to Rs 407.18 crore for the same quarter in the previous year. Total income of the bank increased by 27.27% at Rs 3249.08 crore for quarter under review as compared to Rs 2552.96 crore for the quarter ended March 31, 2014.


Kotak Mahindra Bank Share Price

368.10 -2.30 (-0.62%)
24-Apr-2026 09:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 777.75
ICICI Bank 1333.40
Axis Bank 1358.00
Kotak Mahindra Bank 368.10
Indusind Bank 852.70
View more..

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