Kotak Mahindra Bank approves raising foreign investment limit

The stock rose after the bank's board approved an increase in the ceiling limit on Foreign Institutional Investors' and Foreign Portfolio Investors' total shareholding from 43% to 45% with immediate effect.

Feb 26, 2019 09:02 IST India Infoline News Service

Kotak Mahindra Bank
Shares of Kotak Mahindra Bank was trading marginally higher on the bourses in afternoon trade on Tuesday. The stock rose after the bank's board approved an increase in the ceiling limit on Foreign Institutional Investors' and Foreign Portfolio Investors' total shareholding from 43% to 45% with immediate effect.

Kotak Mahindra Bank Ltd share price is currently at Rs1,248.40, up Rs7.15, or 0.58%, from its previous close of Rs1,241.25 on the BSE. The scrip opened at Rs1,227.95 and has touched a high and low of Rs1,251.40 and Rs1,221.20, respectively.

The BSE group 'A' stock of face value Rs5 has touched a 52-week high of Rs1,424 on July 17, 2018, and a 52-week low of Rs1,002.30 on October 01, 2018. Last one week high and low of the scrip stood at Rs1,297.40 and Rs1,230.40, respectively.

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