CLSA Merchant Bankers Ltd today bought about a 2.86 per cent stake in Kotak Mahindra Bank for around Rs 124.80 crore. It bought 32 lakh shares at Rs 390 per share from T Rowe Price International in a block deal on the Bombay Stock Exchange. | |
| The Kotak Bank scrip ended the day down 0.82 per cent at Rs 381.80 against its previous close of Rs 384.95 on the BSE. |
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| This is the second block deal at the bank's counter in less than 15 days. On June 2, Warburg Pincus International had picked up around 2 per cent stake in Kotak Bank from the market for Rs 90.5 crore. |
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| It had bought 23,50,000 shares at Rs 385.04 per share in a block deal from T Rowe Price International. |
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| The Indian promoter holding in the bank as on March 31, 2005 stood at 58.75 per cent; mutual funds and UTI hold 2.46 per cent and banks, financial institutions and insurance companies hold 0.01 per cent stake in the bank. |
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| The bank announced a 12.04 per cent rise in net profit to Rs 23.07 crore for the quarter ended March 31, 2005, against Rs 20.59 crore in the corresponding quarter in the previous financial year. |
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| Net profit for the full year rose by 7.83 per cent to Rs 84.89 crore, up from Rs 78.72 crore in the previous year. |
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