Kotak Mahindra Bank gets "Buffetted!"

With an over 6 times rise in volumes, the stock price of Kotak Mahindra Bank jumped over 8.5% to Rs.1283.05 and remains among the top three gainers on the BSE since morning.

With the 31st Dec 2018 deadline fast approaching, before which the promoter has to trim down his holding by 10% from the current 29.73% to below 20%, looks like some moves are being made to adhere to the rule.

There is unconfirmed news that Warren Buffet promoted Berkshire Hathaway is looking to buy a 10% stake in the bank. If this does prove to be true, there would be no stopping the galloping stock price of the private sector bank then.