Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank is currently trading at Rs. 685.75, up by 7.60 points or 1.12% from its previous closing of Rs. 678.15 on the BSE.

The scrip opened at Rs. 678.95 and has touched a high and low of Rs. 685.75 and Rs. 678.95 respectively. So far 4,236 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 685.75 and a 52 week low of Rs. 511.00.

The current market cap of the company is Rs. 50,998.00 crore.

The promoters holding in the company stood at 45.11% while Institutions and Non-Institutions held 34.00% and 20.74% respectively.

Kotak Mahindra Bank (KMBL) has acquired the business loans portfolio from Barclays Bank PLC, India Branch and Barclays Investment and Loan (India). The acquisition is in line with KMBL’s strategy to add value to its existing business lines as it strengthens business loans portfolio.

With this acquisition, KMBL will gain access to approximately 6,000 business loan customers, with a total loan outstanding of about Rs 700 crore. All these acquired loans are classified as standard loans as per current RBI guidelines.

Established in 1985, the Kotak Mahindra group is one of India’s leading financial services conglomerates.