Kotak Mahindra Bank moves up on acquiring 46.7% stake in KMPFL
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Kotak Mahindra Bank is currently trading at Rs. 1757.75, up by 13.75 points or 0.79% from its previous closing of Rs. 1744.00 on the BSE.
The scrip opened at Rs. 1765.00 and has touched a high and low of Rs. 1770.15 and Rs. 1753.25 respectively. So far 24420 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. 1110.00 on 18-May-2020.
Last one week high and low of the scrip stood at Rs. 1770.15 and Rs. 1701.20 respectively. The current market cap of the company is Rs. 348414.48 crore.
The promoters holding in the company stood at 26.02%, while Institutions and Non-Institutions held 57.76% and 16.22% respectively.
Kotak Mahindra Bank has acquired 1,30,80,000 Equity Shares (46.7% of the issued and paid-up Equity Share Capital) of Kotak Mahindra Pension Fund (KMPFL) from Kotak Mahindra Asset Management Company (KMAMC). KMPFL was a direct subsidiary of KMAMC and post the said acquisition of shares, KMPFL has now become a direct subsidiary of the Bank.
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.
