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Kotak Mahindra Bank gains after bulk deal

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Capital Market
Last Updated : Jan 13 2014 | 11:56 PM IST

Kotak Mahindra Bank rose 2.46% to Rs 718.90 at 15:16 IST on BSE after a bulk deal was executed on the counter on BSE today, 13 January 2014.

A bulk deal of 3.52 lakh shares was executed on the Kotak Mahindra Bank counter at Rs 705.50 per share at 11:05 IST on BSE today, 13 January 2014. The bulk deal saw 0.04% equity of the bank changing hands.

Meanwhile, the BSE Sensex was up 356.29 points, or 1.78%, to 21,128.53

On BSE, so far 3.71 lakh shares were traded in the counter compared with average volume of 41,689 shares in the past one quarter.

The stock hit a high of Rs 719.40 and a low of Rs 700.05 so far during the day. The stock hit a 52-week low of Rs 588 on 28 August 2013. The stock hit a record high of Rs 804 on 30 May 2013.

The stock had underperformed the market over the past one month till 10 January 2014, sliding 9.05% compared with the Sensex's 2.34% fall. The scrip also underperformed the market in past one quarter, falling 0.61% as against Sensex's 2.4% rise.

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The large-cap private sector bank has an equity capital of Rs 384.80 crore. Face value per share is Rs 5.

Kotak Mahindra Bank's net profit rose 25.7% to Rs 352.54 crore on 13.6% increase in total income to Rs 2,469.46 crore in Q2 September 2013 over Q2 September 2012.

Kotak Mahindra Bank crossed 500 branches and 1,000 ATMs during the quarter. As on 30 September 2013, the Bank had 502 full-fledged branches (390 branches as on 30 September 2012) across 298 locations and 1,004 ATMs.

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First Published: Jan 13 2014 | 3:22 PM IST

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