Kotak Mahindra Bank inches up after twin bulk deals

Kotak Mahindra Bank rose 0.62% to Rs 709.80 at 14:11 IST on BSE after two bulk deals were executed on the scrip on BSE today, 5 January 2016.

A bulk deal of 10 lakh shares was executed on the Kotak Mahindra Bank counter at Rs 710.15 per share at 12:35 IST on BSE today, 5 January 2016. Another bulk deal of 10 lakh shares was executed on the Kotak Mahindra Bank counter at Rs 710.75 per share at 12:46 IST on BSE today, 5 January 2016.

Meanwhile, the S&P BSE Sensex down 3.58 points or 0.01% at 25,619.77

Bulk deals boosted volume on the Kotak Mahindra Bank scrip. On BSE, so far 30.17 lakh shares were traded in the counter as against average daily volume of 84,442 shares in the past one quarter. The stock hit a high of Rs 712.80 and a low of Rs 705.35 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 594.10 on 7 September 2015. The stock had outperformed the market over the past one month till 4 January 2016, rising 6.08% compared with 0.06% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 10.09% as against Sensex's 2.28% fall.

The large-cap private bank has equity capital of Rs 916.13 crore. Face value per share is Rs 5.

Kotak Mahindra Bank's net profit rose 28.1% to Rs 569.50 crore on 63.9% growth in total income to Rs 4621.38 crore in Q2 September 2015 over Q2 September 2014.

Kotak Mahindra Bank is one of the leading private sector banks in India.

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