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Kotak Mahindra Bank share price falls 2% intra day after Rs 1,500-crore block deals

BusinessToday.In     January 8, 2020

Kotak Mahindra Bank share price closed lower today amid reports that over 90 lakh equity shares of the private lender changed hands through multiple block deals. Share price of Kotak Mahindra Bank ended 0.95% or 15 points lower at Rs 1,655 compared to the previous close of Rs 1,671 on BSE.

95.73 lakh shares of the bank changed hands amounting to turnover of Rs 1,578 crore on BSE. Market capitalisation of the stock stood Rs 3.16 lakh crore. The stock fell 1.98% or 33 points intra day to Rs 1,638 on BSE.

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On NSE, the stock closed 1.15% or 19 points lower at Rs 1,651 compared to the previous close of Rs 1,670. The stock hit an intra day low of Rs 1,638 on the bourse. However, the large cap stock is 4.77% away from 52-week high of Rs 1,734.35 reached on December 19 last year.

Three block deals took place at an average price of Rs 1,648.25 per share today. These block deals amounted to Rs 1,490 crore.

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