Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank is currently trading at Rs. 1198.50, up by 46.05 points or 4.00% from its previous closing of Rs. 1152.45 on the BSE.

The scrip opened at Rs. 1164.95 and has touched a high and low of Rs. 1227.75 and Rs. 1163.25 respectively. So far 144356 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1739.95 on 19-Feb-2020 and a 52 week low of Rs. 1000.35 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1227.75 and Rs. 1117.00 respectively. The current market cap of the company is Rs. 229369.37 crore.

The promoters holding in the company stood at 29.92%, while Institutions and Non-Institutions held 51.81% and 18.26% respectively.

Kotak Mahindra Bank has launched its over Rs 7,000 crore qualified institutional placement (QIP) of shares. The share sale through the QIP route will help the bank's promoter group led by Uday Kotak decrease their stake in the bank by 3.4%, and help comply with the Reserve Bank of India's (RBI) order to have the holding down to 26% by August this year, as against 29.92% as of March.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.