Kotak Mahindra Bank gained 1.66% to Rs 650.35 at 15:08 IST on BSE after a large bulk deal of 30.03 lakh shares was executed on the scrip at Rs 641.35 per share at 09:18 IST on BSE today, 16 March 2016.
Meanwhile, the S&P BSE Sensex was up 121.76 points or 0.5% at 24,672.93
Bulk deal boosted volume on the Kotak Mahindra Bank scrip. On BSE, so far 31.70 lakh shares were traded in the counter as against average daily volume of 1.35 lakh shares in the past one quarter. The stock hit a high of Rs 651.50 and a low of Rs 635.50 so far during the day. The stock had hit a record high of Rs 744.45 on 21 July 2015. The stock had hit a 52-week low of Rs 586.50 on 29 February 2016. The stock had underperformed the market over the past one month till 15 March 2016, rising 2.53% compared with Sensex's 4.23% rise. The scrip had also underperformed the market in past one quarter, falling 6.4% as against Sensex's 3.04% fall.
The large-cap private bank has equity capital of Rs 916.84 crore. Face value per share is Rs 5.
Kotak Mahindra Bank's net profit rose 36.6% to Rs 634.72 crore on 61.8% rise in total income to Rs 4843.86 crore in Q3 December 2015 over Q3 December 2014.
Kotak Mahindra Bank is one of the leading private sector banks in India.
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