Kotak Mahindra Bank gains as Allianz partners with Kotak Investment Advisors
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Kotak Mahindra Bank is currently trading at Rs. 1931.00, up by 12.30 points or 0.64% from its previous closing of Rs. 1918.70 on the BSE.
The scrip opened at Rs. 1918.70 and has touched a high and low of Rs. 1934.35 and Rs. 1917.00 respectively. So far 49779 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2048.95 on 16-Feb-2021 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. 1998.75 and Rs. 1894.00 respectively. The current market cap of the company is Rs. 381253.99 crore.
The promoters holding in the company stood at 26.03%, while Institutions and Non-Institutions held 58.01% and 15.96% respectively.
Allianz Investment Management SE (Allianz) has partnered with Kotak Investment Advisors, a wholly owned subsidiary of Kotak Mahindra Bank, to invest in the Indian private credit market. So far, Allianz - the investment management arm of Allianz Group - has invested around $650 million in the country's private credit market and plans to increase it to $1 billion in 2021. In February this year, it had made its maiden credit investment of $150 million in Kotak Investment Advisors' (KIAL) 11th Real Estate Debt Fund that achieved closure of $380 million.
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.
