Kotak Mahindra Bank surges on introducing same day settlement feature for merchants
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Kotak Mahindra Bank is currently trading at Rs. 1943.10, up by 8.20 points or 0.42% from its previous closing of Rs. 1934.90 on the BSE.
The scrip opened at Rs. 1934.00 and has touched a high and low of Rs. 1951.55 and Rs. 1930.00 respectively. So far 9782 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. 1976.00 and Rs. 1898.20 respectively. The current market cap of the company is Rs. 385650.18 crore.
The promoters holding in the company stood at 26.00%, while Institutions and Non-Institutions held 57.87% and 16.13% respectively.
Kotak Mahindra Bank (KMBL) has introduced the Same Day Settlement (SDS) feature for merchants for payments received on its Point of Sale (PoS) terminals. At a time when digital payments are soaring, the SDS facility is especially useful for businesses with immediate cash flow requirements, those with high inventory turnover and the need to replenish stocks frequently as well as for businesses that employ the services of daily wage earners for optimal payroll management.
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.
