Kotak Mahindra Bank fell 1.07% to Rs 707.75 at 11:08 IST on BSE after 91.28 crore bonus shares of the company were admitted for trading today, 14 July 2015.
Meanwhile, the S&P BSE Sensex was down 74.71 points or 0.27% at 27,886.48.
On BSE, so far 21,000 shares were traded in the counter as against average daily volume of 1.41 lakh shares in the past one quarter.
The stock hit a high of Rs 716 and low of Rs 707.50 so far during the day. The stock hit a 52-week low of Rs 423.58 on 11 July 2014. The stock had hit a record high of Rs 736.88 on 15 April 2015.
The stock had outperformed the market over the past one month till 13 July 2015, advancing 9.53% compared with the Sensex's 5.81% rise. The scrip had also outperformed the market in past one quarter, sliding 1.03% as against Sensex's 3.73% fall.
The large-cap private sector bank has equity capital of Rs 912.85 crore. Face value per share is Rs 5.
Out of 91.28 crore bonus shares of Kotak Mahindra Bank admitted for trading today, 14 July 2015, 5.89 crore shares are under lock-in period until 21 April 2016.
Kotak Mahindra Bank's net profit rose 29.5% to Rs 527.14 crore on 27.3% growth in total income to Rs 3249.08 crore in Q4 March 2015 over Q4 March 2014.
Kotak Mahindra Bank is one of the leading private sector banks in India.
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