Kotak Bank jumps on shareholders nod for bonus issue

The stock is up around a percent in opening trade this morning.

Kotak Mahindra Bank has jumped over a percent to touch a high of Rs. 1,389 in opening trades on the BSE after the shareholders approved the bank's bonus proposal.

According to a release issued by the bank to the BSE, the bank's shareholders at the Annual General Meeting held on Monday approved issuance of 'bonus shares' in the ratio of 1:1, as per the decided record date.

The stock is now up 0.8 percent at Rs. 1,384, and 8,650-odd shares have changed hands in the first few minutes on the BSE.

Meanwhile, the Sensex has added 64 points to 27,710.