1.27 crore shares of Kotak Bank change hands in block deal

Nearly 1.27 crore shares of Kotak Mahindra Bank got transferred in a block deal on the National Stock Exchange in pre-open session on Thursday, according to reports.

The transaction took place at Rs 1,130 per share.


The scrip was 0.43 per cent up at Rs 1,134.40 in morning deals while the BSE Sensex was flat 35,143.

Earlier a report by ET quoting investment banking sources said Dutch lender ING Group NV is selling the rest of its stake in Kotak Mahindra Bank in a deal that could be valued at Rs 7,600 crore.

Citing banking sources, the report further said Canada Pension Plan Investment Board, which owns 6.04 per cent stake in Kotak, could be one of the buyers.

Kotak Mahindra Bank last month reported a 14.82 per cent on-year rise in its net profit at Rs 1,141.65 crore for the quarter to September on the back of higher net interest income and operating and other income. It had posted a net profit Rs 994.31 crore in the same period last year.