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Kotak Bank shares fall 5% as ING offloads 1.2% stake

Updated : February 22, 2019 09:58 AM IST

Shares of Kotak Mahindra Bank fell nearly 5 percent in the morning trade following a series of bulk deals on the stock exchanges

The stock fell as much as 4.25 percent to Rs 1,234 per share on the BSE, and lost 4.97 percent to Rs 1,225 per share on the NSE.

Kotak Bank shares fall 5% as ING offloads 1.2% stake

Shares of Kotak Mahindra Bank fell nearly 5 percent in the morning trade following a series of bulk deals on the stock exchanges. The stock fell as much as 4.25 percent to Rs 1,234 per share on the BSE, and lost 4.97 percent to Rs 1,225 per share on the NSE.

ET Now on Thursday reported that ING Group could sell around 1.20 per cent stake in Kotak Mahindra Bank through block deals at an offer price of in the range of Rs 1,125-1,250 per share.

ING Mauritius Investments held a 3.06 per cent stake, or 5,84,53,476 shares, in Kotak Mahindra Bank as of December 31, 2018, added ET Now.

At 9.40 am, the stock traded 3.63 percent lower at Rs 1,242.40 per share and around 71.5 lakh shares changed hands on the NSE.

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