Kotak Mahindra Bank advances after large bulk deal

Kotak Mahindra Bank rose 1.16% to Rs 659.55 at 15:13 IST on BSE after a large bulk deal of 40.01 lakh shares was executed on the scrip at Rs 652.30 per share in opening bell on BSE today, 18 March 2016.

Meanwhile, the S&P BSE Sensex was up 298.63 points or 1.21% at 24,976

Bulk deal boosted volume on the Kotak Mahindra Bank scrip. On BSE, so far 40.90 lakh shares were traded in the counter as against average daily volume of 1.89 lakh shares in the past one quarter. The stock hit a high of Rs 660.30 and a low of Rs 647.85 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 17 March 2016, rising 4.19% compared with 5.54% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 7.17% as against Sensex's 4.37% 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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