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Kotak Mahindra Bank recovers after 4-day 4.9% slide

Capital Market/ 14:43 , Mar 22, 2013

Kotak Mahindra Bank rose 2.83% to Rs 649.50 at 14:45 IST on BSE, with the stock recovering on bargain hunting after 4-day 4.9% slide.

Meanwhile, the S&P BSE Sensex was up 31.28 points or 0.17% at 18,824.15.

On BSE, 23,000 shares were traded in the counter as against average daily volume of 61,388 shares in the past one quarter.

The stock hit a high of Rs 649.60 and a low of Rs 625.95 so far during the day. The stock had hit a 52-week high of Rs 694.40 on 7 February 2013. The stock had hit a 52-week low of Rs 511 on 29 March 2012.

The stock had underperformed the market over the past one month till 21 March 2013, sliding 4.32% compared with the Sensex's 2.76% fall. The scrip had also underperformed the market in past one quarter, declining 2.73% as against Sensex's 2.33% fall.

The large-cap private sector bank has equity capital of Rs 372.91 crore. Face value per share is Rs 5.

Shares of Kotak Mahindra Bank had declined 4.9% in four trading sessions to settle at Rs 631.60 on Thursday, 21 March 2013, from a recent high of Rs 664.15 on 15 March 2013.

Kotak Mahindra Bank's net profit rose 31% to Rs 361.68 crore on 24.8% growth in total income to Rs 2399.44 crore in Q3 December 2012 over Q3 December 2011.

Kotak Mahindra Bank offers personal finance solutions, transaction banking, operates lending verticals, manages IPOs and provides working capital loans.


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