Kotak Mahindra Bank rose 0.3% to Rs 681.45 at 09:28 IST on BSE after the private sector bank announced lending rates based on marginal cost of funds effective from Friday, 1 April 2016.
The announcement was made after market hours on Friday, 1 April 2016.Meanwhile, the S&P BSE Sensex was up 141.45 points or 0.56% at 25,411.09
On BSE, so far 1,932 shares were traded in the counter as against average daily volume of 4.72 lakh shares in the past one quarter. The stock hit a high of Rs 683.05 and a low of Rs 679.55 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 large-cap private bank has equity capital of Rs 917.20 crore. Face value per share is Rs 5.
Kotak Mahindra Bank's Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.9%, for one month will be 9% and for three months will be 9.25%. The MCLR on 6-month loans will be 9.4% and for one-year loans the rate would be 9.6%, the bank said. The MCLR on two-year loans will be 9.65% and for three-year loans the rate would be 9.65%, the bank said.
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.
Powered by Capital Market - Live News
