Company Profile

Kotak Mahindra Bank has informed that the Bank has become one of the initial subscribers to the Memorandum and Articles of Association of IBBIC (IBBIC) (IBBIC is yet to be incorporated and the said company name is subject to approval of Registrar of Companies, Mumbai) on November 20, 2020. Pursuant to Regulation 30 read with para A of part A of Schedule III of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, as amended read with SEBI circular no. CIR/CFD/CMD/4/2015 dated September 9, 2015, it has provided the disclosure as details are enclosed.

The above information is a part of company’s filings submitted to BSE.

Kotak Mahindra Bank’s subsidiary company -- Kotak Securities launched an offering where intra-day trading will become free. For all the other trades, a customer will have to pay a flat charge of Rs 20 per transaction. It will earn its revenues from such transactions and also from cross-sells of other products offered by the diversified financial services group.

This led to the launch of the product, where a customer can join with an upfront fee of Rs 499 and get it reimbursed in full if she is unsatisfied with the service within the first month. A customer will be able to trade within an hour courtesy the tech-based onboarding solutions. The company declined to share any targets from a customer base perspective.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

Kotak Mahindra Bank is currently trading at Rs. 1842.20, up by 17.30 points or 0.95% from its previous closing of Rs. 1824.90 on the BSE.

The scrip opened at Rs. 1824.90 and has touched a high and low of Rs. 1856.70 and Rs. 1813.65 respectively. So far 73380 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1859.95 on 19-Nov-2020 and a 52 week low of Rs. 1000.35 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1859.95 and Rs. 1765.65 respectively. The current market cap of the company is Rs. 365072.25 crore.

The promoters holding in the company stood at 26.05%, while Institutions and Non-Institutions held 57.49% and 16.46% respectively.

Kotak Mahindra Bank’s subsidiary company -- Kotak Securities launched an offering where intra-day trading will become free. For all the other trades, a customer will have to pay a flat charge of Rs 20 per transaction. It will earn its revenues from such transactions and also from cross-sells of other products offered by the diversified financial services group.

This led to the launch of the product, where a customer can join with an upfront fee of Rs 499 and get it reimbursed in full if she is unsatisfied with the service within the first month. A customer will be able to trade within an hour courtesy the tech-based onboarding solutions. The company declined to share any targets from a customer base perspective.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

Kotak Mahindra Bank has reduced its Home Loan interest rates by a further 15 basis points (bps) to 6.75% p.a. with effect from November 1, 2020. Kotak home loan and balance transfer loans now start at 6.75% p.a., which is one of the lowest rates in the home loan market.

The new normal has changed the functioning of the entire ecosystem. Interest rates at a 15-year low, developers significantly reducing residential property prices and having a ready inventory of ready-to-move-in homes and lower stamp duty. All these factors when taken together make home buying at this point of time extremely attractive.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

Kotak Mahindra Bank is currently trading at Rs. 1623.00, up by 29.70 points or 1.86% from its previous closing of Rs. 1593.30 on the BSE.

The scrip opened at Rs. 1590.00 and has touched a high and low of Rs. 1632.20 and Rs. 1578.00 respectively. So far 145614 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1739.95 on 19-Feb-2020 and a 52 week low of Rs. 1000.35 on 19-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1632.20 and Rs. 1519.05 respectively. The current market cap of the company is Rs. 315317.43 crore.

The promoters holding in the company stood at 26.05%, while Institutions and Non-Institutions held 57.49% and 16.46% respectively.

Kotak Mahindra Bank has reduced its Home Loan interest rates by a further 15 basis points (bps) to 6.75% p.a. with effect from November 1, 2020. Kotak home loan and balance transfer loans now start at 6.75% p.a., which is one of the lowest rates in the home loan market.

The new normal has changed the functioning of the entire ecosystem. Interest rates at a 15-year low, developers significantly reducing residential property prices and having a ready inventory of ready-to-move-in homes and lower stamp duty. All these factors when taken together make home buying at this point of time extremely attractive.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.