Kotak Mahindra Bank surges after divesting 10% stake in ECA Trading Services to its subsidiary
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Kotak Mahindra Bank is currently trading at Rs. 1911.25, up by 13.75 points or 0.72% from its previous closing of Rs. 1897.50 on the BSE.
The scrip opened at Rs. 1878.65 and has touched a high and low of Rs. 1924.80 and Rs. 1869.55 respectively. So far 167844 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. 1924.80 and Rs. 1803.30 respectively. The current market cap of the company is Rs. 380451.43 crore.
The promoters holding in the company stood at 26.03%, while Institutions and Non-Institutions held 58.01% and 15.96% respectively.
Kotak Mahindra Bank has divested 10 per cent stake in ECA Trading Services to one of its subsidiaries for nearly Rs 2 crore. Kotak Mahindra Bank has sold 1,09,48,925 equity shares of Rs 10 each (10 per cent of its stake) of ECA Trading Services to Kotak Securities (a wholly-owned subsidiary of the bank), at a consideration of Rs 1.98 crore.
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.
