It may be noted that the current limit for Foreign Institutional Investors (FIIs)/ sub-accounts of FIIs, Foreign Portfolio Investors (FPIs) and Qualified Foreign Investors (QFIs) approved by the Board of Directors remains at 40%
Kotak Mahindra Bank, in an official statement, has said that the Reserve Bank of India, vide its letter dated March 22, 2016 has intimated that pursuant to the approval from the Foreign Investment Promotion Board (FIPB), they are taking the foreign investment limit in Kotak Mahindra Bank to 55% on their record.
"It may be noted that the current limit for Foreign Institutional Investors (FIIs)/ sub-accounts of FIIs, Foreign Portfolio Investors (FPIs) and Qualified Foreign Investors (QFIs) approved by the Board of Directors remains at 40%", the announcement added.
"It may be noted that the current limit for Foreign Institutional Investors (FIIs)/ sub-accounts of FIIs, Foreign Portfolio Investors (FPIs) and Qualified Foreign Investors (QFIs) approved by the Board of Directors remains at 40%", the announcement added.
Kotak Mahindra Bank Ltd is currently trading at Rs. 672.35, up by Rs. 8.3 or 1.25% from its previous closing of Rs. 664.05 on the BSE.
The scrip opened at Rs. 664.05 and has touched a high and low of Rs. 672.6 and Rs. 661.45 respectively. So far 221888(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 121778.91 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. 669 and Rs. 635.5 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 below its 200 DMA.
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