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SBI Mutual Fund Hikes Stake In Kotak Mahindra Bank To Over 5%

Kotak Mahindra Bank revealed that the fund house acquired 21.57 lakh shares through the open market on June 5.

NDTV Profit Desk

A Kotak Mahindra Bank branch. (Source: Vijay Sartape/ NDTV Profit)

SBI Mutual Fund has raised its stake in Kotak Mahindra Bank to over 5%. Kotak Mahindra Bank revealed that the fund house acquired 21.57 lakh shares through the open market on June 5, as reported in an exchange filing on Tuesday.

With the fresh addition, SBI Mutual Fund's stake in Kotak Mahindra Bank increased to 5.01%, it said.

Shares of Kotak Mahindra Bank were trading 1.35% lower at Rs 1,722 apiece on the BSE.

Also Read: Kotak Mahindra Bank's Credit Profile To Improve In Next 12 Months: S&P Analyst

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