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Kotak Mahindra rolls out mobile medical vans under CSR
Posted on 8th September 2018
Kotak Mahindra Life Insurance Company Saturday said it has rolled out three mobile medical vans under the corporate social responsibility initiative ‘Life First’, in association with Wockhardt Foundation. As part of the agreement, three medical vans which act as primary health care centres on wheels would be managed by the Wockhardt Foundation, a press release said.

Kotak shares fall to 3-month low after RBI declines preference share allotment
Posted on 17th August 2018
The stock of Kotak Mahindra Bank declined 3.62% on Thursday to hit a three-month low of Rs 1,244.90 on Thursday on the BSE after the lender said the Reserve Bank of India (RBI) had rejected its proposal to issue non-convertible preference shares to reduce promoter holding. During the day, it plunged 3.82% to Rs 1,242.25. On NSE, shares of the company slumped 3.71% to close at Rs 1,245.

Kotak Mahindra Bank shares tank 3.5% after RBI setback on stake reduction; should you buy or sell stock?
Posted on 16th August 2018
Shares of Uday Kotak-run Kotak Mahindra Bank tanked by nearly 3.5% on Thursday, after India’s apex bank RBI notified on Tuesday that the bank’s preferential issue does not meet its dilution norms. Under RBI’s current norms, Founder and Promoter Uday Kotak was required to reduce his stake in the bank to 20% by December 2018 and 15% by March 2020.

Alok Industries: Kotak Mahindra Bank flags huge haircut in resolution plan
Posted on 4th August 2018
Kotak Mahindra Bank on Friday raised the issue of financial creditors suffering due to the huge haircut proposed in the resolution plan submitted by the Reliance Industries-JM Financial ARC combine for Alok Industries at the National Company Law Tribunal’s (NCLT) Ahmedabad bench. The tribunal will hear all the cases related to Alok Industries on September 6 and 7.

Promoter stake in Kotak Mahindra Bank goes below 20% from 30.03%
Posted on 3rd August 2018
Promoters of Kotak Mahindra Bank, led by MD & CEO Uday Kotak, reduced their stake in the private sector lender to 19.7 per cent after the bank issued preference shares worth Rs 5 billion to investors. Before the issue, promoters held 30.03 per cent in the bank.

The bank issued one billion non-convertible perpetual non-cumulative preference shares (PNCPS) of a face value of Rs 5 each to investors on Thursday.

Kotak Mahindra Bank to raise up to ₹500 crore via preference shares
Posted on 2nd August 2018
New Delhi: Kotak Mahindra Bank will raise up to 500 crore by issuing preference shares on a private placement basis.

The non-convertible preference shares (NCPS) issuance committee of the board of directors of the bank on Wednesday resolved to approved the issue of perpetual non-cumulative preference shares on a private placement basis aggregating to an issue size of up to 500 crore, Kotak Mahindra Bank said in a regulatory filing.

Kotak Mahindra Bank Q1 standalone net rises 12% on NII, improved asset quality
Posted on 20th July 2018
Kotak Mahindra Bank on Thursday reported a 12% year-on-year (y-o-y) rise in standalone net profit for the quarter ended June at Rs 1,025 crore on the back of healthy net interest income (NII) and improved asset quality. NII, or the difference between interest earned and interest expended by a bank, rose 15% to Rs 2,583 crore for the quarter.

Kotak Mahindra Bank consolidated Q1 net up 17% to Rs 15.74 bn
Posted on 19th July 2018
Private lender Kotak Mahindra Bank reported a 17 per cent rise in its first-quarter consolidated net profit, while asset quality improved in the bank.

Profit after tax on a consolidated level rose to Rs 15.74 billion for the quarter ended June 2018, from Rs 13.47 billion in the year-ago period.

Kotak Mahindra Bank on course to have 16 million customer base by September: Uday Kotak
Posted on 15th June 2018
Private sector lender Kotak Mahindra Bank (KMB) is on course to have a customer base of 16 million by September, from the current level of 13 million, which also includes the bank’s 811 customers, managing director and CEO Uday Kotak wrote to the bank’s shareholders in its 2017-18 annual report. “On March 29, 2017, while launching 811, we had made a commitment to double our customer base in 18 months, that is, to about 16 million by September 2018,” he said.

‘Hold’ on Kotak Mahindra Bank; expect subsidiaries to add value
Posted on 15th May 2018
Kotak Mahindra Bank’s Q4FY18 PAT at Rs 1,120 crore was marginally lower than our estimate as it took a one-time hit of Rs 82 crore on employee expenses and did not avail RBI dispensation on amortization of mark-to-market losses. Loan growth at 25% YoY gained momentum and management continues to guide for 20% YoY growth in FY19.

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