Kotak Mahindra Bank gains on partnering with actyv.ai to provide dealer finance
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Kotak Mahindra Bank is currently trading at Rs. 1932.65, up by 4.05 points or 0.21% from its previous closing of Rs. 1928.60 on the BSE.
The scrip opened at Rs. 1928.15 and has touched a high and low of Rs. 1937.90 and Rs. 1928.15 respectively. So far 8318 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2043.55 on 29-Nov-2021 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. 1961.05 and Rs. 1910.05 respectively. The current market cap of the company is Rs. 383658.85 crore.
The promoters holding in the company stood at 25.96%, while Institutions and Non-Institutions held 60.88% and 13.15% respectively.
Kotak Mahindra Bank (KMBL) has partnered with actyv.ai to provide finance to dealers onboarded on actyv.ai, an AI-powered enterprise SaaS platform. KMBL will provide short-term finance under the ‘Buy Now, Pay Later’ category for working capital needs of dealers.
Kotak is committed to empowering small-and medium-scale business owners by helping them address their credit requirements. Partnership with a technology platform like actyv.ai helps the bank ease supply chain bottlenecks for businesses with technological advancements.
Additionally, it would benefit business owners across the B2B value chain with smooth, quick and safe funding options on attractive interest rates, and help them meet cash flow requirements for their businesses.
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.
