Kotak Mahindra Share Price Live: Kotak Mahindra Shares Rise by 1.22% as Nirmala Sitharaman Presents Union Budget 2019

Source: news18.com

Kotak Mahindra shares open at 1504.85 on Friday. The stocks rose by 1.22 percent of the union budget. The stock closed at 1,516.00.

The BSE group ‘A’ stock of face value Rs 5 has touched a 52-week high of Rs 1,555.45 on 23 May 2019 and a 52-week low of Rs 1,002.30 on 1 October 2018.

Kotak Mahindra shares have gained 11% in the last one year compared with as 12% rise in the benchmark Nifty 50 index.

The promoter holding in the company stood at 29.99%, while Institutions and Non-Institutions held 51.78% and 18.23%, respectively.

Kotak Mahindra was recently in news when the Reserve Bank of India (RBI) had last month imposed a monetary penalty of Rs 2 crore on the bank for non-compliance of directions. The directions

issued to Kotak Mahindra Bank by RBI in the exercise of its powers were under sections 27(2) and 35A of the Banking Regulation Act, 1949 (the Act) to furnish information specified therein.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.