|Bid||1,470.95 x 0|
|Ask||1,471.00 x 0|
|Day's Range||1,458.25 - 1,474.50|
|52 Week Range||1,002.20 - 1,555.90|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||38.99|
|Forward Dividend & Yield||0.70 (0.05%)|
|1y Target Est||N/A|
The Reserve Bank of India (RBI) on Friday fined Kotak Mahindra Bank Ltd 20 million rupees ($288,525) for not furnishing details about the shareholdings of its majority stakeholders and its plans for complying with stake dilution norms. The RBI said it decided to impose a penalty after reviewing the bank's reply to a notice seeking an explanation about why it had not complied with regulatory norms. "RBI came to the conclusion that the bank had failed to comply with the directions issued by RBI and decided to impose monetary penalty on the bank," the Reserve Bank of India said in a statement.
The re-election of Narendra Modi’s Bharatiya Janata Party is good news for investors, strategists say. Finance and pharma offer value in a pricey market.
MUMBAI/NEW DELHI, April 29 (Reuters) - Some of India's richest families, Bollywood stars and others voted early on Monday in Mumbai and elsewhere in the country as the fourth phase of a massive, staggered general election got underway. Prime Minister Narendra Modi's coalition won more than 75 percent of the seats in the previous election in 2014. Many of the constituencies are in Uttar Pradesh state in the north and western India's Maharashtra, where the financial capital Mumbai is located.
India's wealthiest man and its richest banker are backing a politician of Congress, the main opposition party, in general election, a rare public endorsement by two of the country's most influential businessmen. Mukesh Ambani, who heads Reliance Industries, and Uday Kotak, managing director of Kotak Mahindra Bank, both endorsed Milind Deora, the Congress candidate for the South Mumbai constituency. "Milind is the man for South Bombay," Ambani said in a short video posted by Deora on his Twitter account late on Wednesday.
(Reuters) - Kotak Mahindra Bank Ltd on Tuesday raised the limit on total shareholding of foreign institutional investors and foreign portfolio investors in the company to 45 percent from 43 percent. The ...
(Reuters) - Indian shares ended largely flat on Friday triggered by a worsening global growth outlook, and as losses in financial stocks such as Kotak Mahindra Bank Ltd offset gains in Maruti Suzuki India ...
ING Group is looking to sell a 1.21 percent stake in the private-sector lender for over 28 billion rupees ($393.43 mln) via a block deal, BloombergQuint reported, citing bankers involved in the deal. Kotak Mahindra Bank shares posted their worst intraday fall since Dec. 10, giving up nearly 5 percent. Shares in broader Asia slipped on Friday as a deteriorating global economic outlook outweighed further signs of progress in trade talks between China and the United States.
India should kick-start private investment via policy measures or tax breaks if it does not want to stay stuck at a 7 percent growth rate, Uday Kotak, managing director and chief executive of Kotak Mahindra Bank Ltd, told CNBCTV18 in an interview. "India has the fundamental capacity and we need to create a situation where the ground capacity will be growing at somewhere between 8 and 9 percent," he said on the sidelines of an event organised by Kotak Mahindra Bank Ltd. The Reserve Bank of India earlier in the month moderated its growth forecast to 7.2-7.4 percent for the April-September period, after economic growth in the country fell to a worse-than-expected 7.1 percent in the July-September quarter.
(Reuters) - A set of Indian investors are keen to join the infrastructure investment trust (InvIT) led by Brookfield Asset Management Inc to buy East West Pipeline Ltd (EWPL) for an enterprise value of ...
A set of Indian investors are keen to join the infrastructure investment trust led by Brookfield Asset Management Inc to buy East West Pipeline Ltd for an enterprise value of 130 billion rupees , the Economic ...
Net profit at the private sector bank came in at 12.91 billion rupees ($181.20 million) for the three months to Dec. 31, compared to 10.53 billion rupees a year earlier and roughly in line with analysts' average estimates of a profit of 12.71 billion rupees, according to I/B/E/S data from Refinitiv. Interest earned rose nearly 25 percent to 62.50 billion rupees in the quarter, while net interest margin - the difference between interest paid and earned and a key measure of profitability - came in at 4.33 percent, compared to 4.27 percent in the year-ago quarter. The strong results came despite the lender being involved in a tussle with the Reserve Bank of India (RBI) over Chief Executive Uday Kotak's stake in the bank.
Billionaire Uday Kotak is a seasoned campaigner and Asia’s richest banker. No wonder then that Ghosh is falling in line with a central bank command, while Kotak is suing. Ghosh tried to avoid dilution, but is now surrendering.
The Bombay High Court refused to stay the central bank order forcing Kotak Mahindra Bank Chief Executive Uday Kotak to dilute his stake in the company he founded, news channel CNBC TV18 reported on Monday, sending shares of the lender sliding nearly 4 percent. The bank last week challenged the Reserve Bank of India's (RBI) decision to not recognise its issuance of preference shares as a means of effectively meeting the objective of the RBI order. RBI order mandated Uday Kotak to lower his holding in the bank to 20 percent by the end of the year.
Uday Kotak, the billionaire head of Kotak Mahindra, has been asked by India's central bank, the Reserve Bank of India (RBI), to lower his holding in the company to 20 percent by the end of the year, and to 15 percent by March 31, 2020. Kotak Mahindra filed a writ petition on Monday with the Bombay High Court as it seeks to "validate" its position, the bank said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/b9f4b5f8-3ed9-407b-999c-96a9f5e8a98a.pdf.
Kotak Mahindra shares, which initially surged 14 percent in their sharpest intraday gain in nearly nine years on the CNBC-TV18 report, pared some gains to close up 8.8 percent following the company's statement. A stake acquisition by U.S.-based Berkshire Hathaway may be conducive to Uday Kotak, the billionaire head of Kotak Mahindra Bank, who has been asked by India's central bank to lower his holding in the private-sector lender to 20 percent by the end of this year, and to 15 percent by March 31, 2020.
(Reuters) - Kotak Mahindra Bank Ltd posted a 14.8 percent rise in second-quarter net profit on Wednesday, boosted by higher interest and fee income, but missed analysts' expectations. Net profit rose to ...
(Reuters) - Indian shares ended higher on Monday snapping a three-session losing streak, boosted by financials such as Housing Development Finance Corp Ltd and IT bellwether Tata Consultancy Services Ltd. ...
India's gold dore imports may rise to a record in 2018 on lower import duties, leading the country's bullion refiners to eat away at the share of the gold market held by banks. Imports of dore, a semi-pure alloy made by miners, may climb to 300 tonnes this year from 250.6 tonnes, James Jose, the secretary of the Association of Gold Refineries and Mints, said on Saturday on the sidelines of the India International Gold Convention in the southern Indian city of Kochi.
The lender, which is India's second-largest bank by market capitalisation and led by Asia's richest banker Uday Kotak, said https://www.bseindia.com/xml-data/corpfiling/AttachLive/823d21ab-5d8b-42cf-ae79-40b6a0dae925.pdf on Thursday net profit was 10.25 billion rupees ($148.84 million) in the three months ended June 30, compared with 9.13 billion rupees a year ago.