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Kotak Mahindra Bank gains after setting record date for bonus issue

Capital Market 

Kotak Mahindra Bank rose 1.23% to Rs 1,389.95 at 14:35 IST on BSE after the bank said that it has fixed 9 July 2015 as record date for the purpose of allotment of 1:1 bonus shares to the existing shareholders of the bank.

The bank made announcement after trading hours yesterday, 29 June 2015.

Meanwhile, the BSE Sensex was down 35.62 points, or 0.13%, to 27,627.44.

On BSE, so far 74,725 shares were traded in the counter, compared with an average volume of 1.07 lakh shares in the past one quarter.

The stock hit a high of Rs 1,402 and low of Rs 1,375.10 so far during the day. The stock hit a record high of Rs 1,473.75 on 15 April 2015. The stock hit a 52-week low of Rs 847.15 on 11 July 2014.

The stock had underperformed the market over the past one month till 29 June 2015, falling 1.95% compared with 0.66% fall in the Sensex. The scrip had however outperformed the market in past one quarter, rising 5.47% as against Sensex's 0.68% gain.

The large-cap private sector bank has an equity capital of Rs 456.43 crore. Face value per share is Rs 5.

Kotak Mahindra Bank's consolidated net profit rose 37.6% to Rs 912.60 crore on 29.1% rise in total income to Rs 6172.26 crore in Q4 March 2015 over Q4 March 2014.

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First Published: Tue, June 30 2015. 14:20 IST