Kotak Mahindra Bank gains 3%

Sumitomo Mitsui Banking Corp sold stake worth Rs. 1,151.61 crore in Kotak Mahindra Bank through an open market transaction, according to reports.

Kotak Mahindra Bank was up by 3% at Rs. 657. Sumitomo Mitsui Banking Corp sold stake worth Rs. 1,151.61 crore in Kotak Mahindra Bank through an open market transaction, according to reports.

As of December 31, 2015, the board held 3.91 per cent stake in Kotak Mahindra.

The scrip opened at Rs. 650 and has touched a high and low of Rs. 657.6 and Rs. 642.1 respectively. So far 590296(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 116942.95 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 744.45 on 21-Jul-2015 and a 52 week low of Rs. 586.5 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 640.5 and Rs. 586.5 respectively.

The promoters holding in the company stood at 33.74 % while Institutions and Non-Institutions held 39.13 % and 27.14 % respectively.

The stock is currently trading above its 200 DMA.