Kotak Mahindra Bank Shares In Focus As Sumitomo Mitsui Plans Exit
About 32.23 million shares change hands on NSE in 31 pre-market block trades, according to Bloomberg data.
Kotak Mahindra Bank Ltd. traded marginally higher during early trade on Wednesday as Japan's Sumitomo Mitsui Banking Corp planned to exit. Trading volumes surged to 2.9 times the 30-day average.
About 32.23 million shares change hands on NSE in 31 pre-market block trades, according to Bloomberg data. The buyers could not be ascertained.
Sumitomo Mitsui Banking Corp, the public shareholder of Kotak Mahindra Bank Ltd, is likely to exit the company through a Rs 6,166.4-crore deal in the open market, according to a term sheet accessed by NDTV Profit on Tuesday.
SMBC will sell 3.28 crore shares, representing a 1.65% stake, in multiple deals on Wednesday. The offer price has been set at Rs 1,880 per share, indicating a 4.1% discount to the current market price of Rs 1,960.4.
SMBC held a 1.65% stake in the company as of June 2025, according to the BSE data.
Kotak Mahindra Bank Share Price
Kotak Mahindra Bank share price rose as much as 1.45% to Rs 1,988.9 apiece. The benchmark Nifty 50 was up 0.5%. The relative strength index was 37.
The shares have risen 11% in the last 12 months.
Out of 44 analysts tracking the company, 27 maintain a 'buy' rating, 12 recommend a 'hold' and five suggest 'sell', according to Bloomberg data. The average of 12-month consensus price target of Rs 2,327.15 implies an upside of 18%.
