Kotak Mahindra Bank gains as its arm raises $590 million for investments in data centres
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Kotak Mahindra Bank is currently trading at Rs. 1770.95, up by 1.90 points or 0.11% from its previous closing of Rs. 1769.05 on the BSE.
The scrip opened at Rs. 1796.95 and has touched a high and low of Rs. 1796.95 and Rs. 1760.05 respectively. So far 3910 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1997.00 on 18-Nov-2022 and a 52 week low of Rs. 1630.00 on 30-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1796.95 and Rs. 1748.75 respectively. The current market cap of the company is Rs. 350616.97 crore.
The promoters holding in the company stood at 25.95%, while Institutions and Non-Institutions held 60.99% and 13.05% respectively.
Kotak Mahindra Bank’s arm -- Kotak Investment Advisors (KIA) has raised $590 million (about Rs 4,885 crore) for investments in the data centres in the country. It plans to raise $800 million under the Kotak Data Centre Fund and this is the first close for the same.
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.
