Kotak Mahindra Bank shares are up 5% today after the Reserve Bank of India (RBI) accepted paid up voting equity share capital (PUVESC) to be capped at 20% till March 2020.
The RBI also gave an in-principle approval for the following:
- Promoters rights in Bank to be capped to 15% of PUVESC from April 1, 2020
- Promoters shareholding in the Bank to be reduced to 26% of PUVESC of bank within 6 months from date of final approval by RBI.
- Thereafter, promoters will not purchase any further "paid up voting equity shares" till the promoter shareholding reaches 15% of PUVESC of bank or higher as permitted by the RBI.
Stock View:
Kotak Mahindra Bank Ltd is currently trading at Rs1,688.60 up by Rs60.5 or 3.72% from its previous closing of Rs1,628.10 on the BSE.
The scrip opened at Rs1,712 and has touched a high and low of Rs1,720 and Rs1,682.05 respectively. So far 49,05,445 (NSE+BSE) shares were traded on the counter.
The current market cap of the company is Rs3,11,217.68cr.
0 comments:
Post a Comment
Please add comment