Kotak Mahindra Bank Rose After Selling Shares In Airtel Payments Bank.
Kotak Bank stock price: Kotak Bank opened at the BSE of $1,750.05, swinging to an intraday high of $1,774 and an intraday low of $1,744 so far.
Kotak Mahindra Bank’s share price rose by about 2% on Thursday, September 2, which was the second day after the bank completed the sale of its 8.6% stake in Airtel Payments Bank. So far, the opening price of Kotak Mahindra Bank on the BSE is 1,750.05 rupees, the intraday high is 1,774 rupees, and the intraday low is 1,744 rupees.
Kotak Mahindra Bank Limited completed the transaction and sold 20,000,000,000 shares of capital to Bharti Enterprises Limited, which is approximately 8.57% of Airtel Payments Bank Limited. According to the regulatory documents submitted by the company to the stock exchange, the bank completed the transaction on August 31, with a total sales consideration of Rs 2,948 crore
Airtel Payments Bank is a payment bank that is officially authorized by the Reserve Bank of India (RBI) to carry out activities permitted by licenses issued by banking regulators. Kotak Mahindra Bank does not require any government or regulatory approval for the proposed transaction and Bharti Enterprises Limited-the acquirer has not received any opposition from the Reserve Bank of India to allow the transaction to be executed.
In the NSE, Kotak Mahindra Bank opened at 1,752 rupees, the intraday high was 1,773.65 rupees, and the intraday low was 1,744 rupees. Last time its transaction price on NSE rose by 1.07% to 1,765.30 rupees. Kotak Mahindra Bank’s stock was last traded on the BSE at Rs 1,766.60, an increase of 1.19%.
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