Kotak Mahindra Bank inches up as its arm aims 10 lakh users on investment products distribution platform
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Kotak Mahindra Bank is currently trading at Rs. 1858.45, up by 0.50 points or 0.03% from its previous closing of Rs. 1857.95 on the BSE.
The scrip opened at Rs. 1887.00 and has touched a high and low of Rs. 1887.00 and Rs. 1857.85 respectively. So far 9432 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2252.45 on 27-Oct-2021 and a 52 week low of Rs. 1627.25 on 30-Jul-2021.
Last one week high and low of the scrip stood at Rs. 1951.00 and Rs. 1829.15 respectively. The current market cap of the company is Rs. 369783.14 crore.
The promoters holding in the company stood at 25.98%, while Institutions and Non-Institutions held 57.46% and 16.56% respectively.
Kotak Mahindra Bank’s subsidiary company -- Kotak Investment Advisors is aiming to have 10 lakh users on a newly launched investment products distribution platform. Kotak Investment Advisors' one-stop investment solution provider 'Kotak Cherry' aims to be an open architecture platform, which will help investors in choosing from a wide array of offerings beyond the ones manufactured by Kotak group companies. The platform is right now available for free with a 'do it yourself' offering for users, but it will eventually be looking at having a subscription fee-based model.
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.
