NSE - Delayed Quote INR

Kotak Mahindra Bank Limited (KOTAKBANK.NS)

1,608.50

-33.95

(-2.07%)

At close: 3:30 PM GMT+5:30

Indian bank Kotak Mahindra's shares dive after new digital client ban

MUMBAI (Reuters) -Kotak Mahindra Bank's shares fell by nearly 11% on Thursday, a day after India's central bank barred the lender that relies heavily on online banking from taking on new digital clients and issuing credit cards. The Reserve Bank of India acted after the tech systems at Kotak, India's fourth biggest private bank, failed to manage a surge in transactions. Shares in Kotak fell by as much as 13% to their lowest since November 2020, before paring losses slightly in late trade.

Reuters yesterday

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U.S. Stocks Drop As Inflation Lingers

U.S. stocks fell broadly as a hot inflation reading had investors pushing back the timeline for the Fed to start cutting interest rates.

The Wall Street Journal 15 days ago

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Top 20 Most Valuable Indian Companies

In this article, we will look into the top 20 most valuable Indian companies. If you want to skip our detailed analysis, you can go directly to the Top 5 Most Valuable Indian Companies. An Outlook of the Indian Economy According to Deloitte’s Indian Economic Outlook 2023, The Indian economy is poised to emerge as […]

Insider Monkey 5 months ago

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India's Kotak Mahindra Bank drops over 2% after naming outsider as new CEO

MUMBAI (Reuters) -Shares of Kotak Mahindra Bank fell more than 2% on Monday after it named veteran banker Ashok Vaswani as managing director and CEO following founder Uday Kotak's resignation, raising fears of volatility in the Indian lender's business going forward. Shares fell as much as 2.7% to 1,722.45 rupees on Monday. The stock was last down 1.2% at 1,749 rupees.

Reuters 6 months ago

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UPDATE 1-India Kotak Mahindra Bank gets cenbank nod to appoint Ashok Vaswani as MD, CEO

India's central bank has approved the appointment of veteran banker Ashok Vaswani as managing director and chief executive of Kotak Mahindra Bank , the private lender said in an exchange filing on Saturday. The appointment, subject to shareholders' approval, is for a period of three years after Vaswani begins his term, which will not be later than Jan. 1, 2024, said the bank, the fourth largest Indian lender by market capitalisation.

Reuters 6 months ago

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Billionaire banker Uday Kotak steps down as CEO of Kotak Mahindra Bank

(Reuters) -Billionaire Uday Kotak, who founded and leads Kotak Mahindra Bank, has resigned as the managing director and chief executive four months before his term was set to end, the bank said in a stock exchange filing on Saturday. Kotak's early exit from the country's fourth-largest bank is due to personal reasons, according to the bank, but analysts said it will quell concerns that Kotak's presence will loom large over his successor. Dipak Gupta, currently the joint managing director, will carry out the chief executive duties until Dec. 31, the bank added.

Reuters 7 months ago

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India's private lenders grab brisk business at the cost of soaring attrition

India's private lenders are contending with soaring attrition amid strong demand for loans and the rush to capture a larger share of the crowded market. Credit demand grew 15% last financial year and is seen expanding 10-12% this year, driven by retail loans. This growth is mounting pressure on the frontline staff and a jump in employee turnover raising risks of mis-selling and service disruption.

Reuters 8 months ago

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Exclusive-Zurich Insurance eyes $400 million stake in general insurance arm of India's Kotak

Zurich Insurance Group is in talks to buy up to 51% of India's Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian insurance market. Backed by Asia's richest banker Uday Kotak, the early-stage negotiations value the Indian company at around $800 million, and Zurich Insurance has expresed interest in both a minority stake of 49% or taking up a majority 51% stake, the sources said. Kotak is still evaluating offers, including from other investors, but it prefers retaining "control of the company" after the stake sale, the first source said.

Reuters 10 months ago

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Performance Overview

Return	KOTAKBANK.NS	S&P BSE SENSEX
YTD	-15.70%	+2.06%
1-Year	-14.79%	+22.62%
3-Year	-7.07%	+53.99%

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Kotak Mahindra Bank Limited (KOTAKBANK.NS)

Indian bank Kotak Mahindra's shares dive after new digital client ban

U.S. Stocks Drop As Inflation Lingers

Top 20 Most Valuable Indian Companies

India's Kotak Mahindra Bank drops over 2% after naming outsider as new CEO

UPDATE 1-India Kotak Mahindra Bank gets cenbank nod to appoint Ashok Vaswani as MD, CEO

Billionaire banker Uday Kotak steps down as CEO of Kotak Mahindra Bank

India's private lenders grab brisk business at the cost of soaring attrition

Exclusive-Zurich Insurance eyes $400 million stake in general insurance arm of India's Kotak

Performance Overview