SMBC reduced its stake by 1.78 per cent in the Indian private sector lender. As of December 2015, SMBC held 3.58 per cent stake in the Bank.
On BSE, the Japanese financial major sold 1.81 crore shares, or 0.98 per cent stake for Rs 1,151.61 crore, while on NSE SMBC offloaded 1.47 crore shares or 0.80 per cent stake in the Bank for Rs 917.20 crore.
The shares were sold at an average price of Rs 636.25 per piece on BSE and on NSE the stock was sold at Rs 623.95 per scrip.
At the end of 2015, the CPP Investment Board held 3.91 per cent stake in Kotak Mahindra Bank.
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Private sector lender Kotak Mahindra Bank had posted a net profit of Rs 938.31 crore for the third quarter ended December 31. During the period, total income of the lender rose to Rs 6,950.41 crore.
Shares of the bank today closed at Rs 637.75 on BSE, up by 1.19 per cent.