Kotak Mahindra Bank at record high
By Research Desk
about 8 years ago
Kotak Mahindra Bank hit a record high today at Rs.807; though it has come off this high, it remains firmly in the green at Rs.800 levels up around 2%.
The stock is up with the market and traders happy that the RBI allowed Canada Pension Plan to increase its stake in the Bank.
RBI, in its statement yesterday said that it has approved Canada Pension Plan to acquire shares in excess of 5% and below 10% of the paid up capital of the Bank.
As at 30th June 2016, Canada Pension Plan held 4.89% and it has been increasing its stake consistently; it was at 3.91% at end of Q3FY16 and 4.9% at end of Q4FY16.