{"id":5816,"date":"2021-11-29T18:07:50","date_gmt":"2021-11-29T12:37:50","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-stocks-kotakbank\/"},"modified":"2021-11-29T18:07:50","modified_gmt":"2021-11-29T12:37:50","slug":"biz-stocks-kotakbank","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-stocks-kotakbank\/","title":{"rendered":"Kotak Mahindra Bank shares gain nearly 3 pc as LIC to up stake in co"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-668400987\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Nov 29 (PTI) Shares of Kotak Mahindra Bank on Monday gained nearly 3 per cent as insurance behemoth LIC will raise its stake in the private sector lender to nearly 10 per cent.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2915357706\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The stock jumped 2.92 per cent to close at Rs 2,020.20 on the BSE. During the day, it gained 4.10 per cent to Rs 2,043.55.  On the NSE, it climbed 2.81 per cent to close at Rs 2,019.60.<\/p>\n<p> LIC will raise its stake in Kotak Mahindra Bank to nearly 10 per cent, after receiving grant of approval from the Reserve Bank of India (RBI).<\/p>\n<p> Kotak Mahindra Bank (Kotak) said it has received an intimation from LIC regarding the same.<\/p><div class=\"trade-content_5\" id=\"trade-451657392\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;Kotak Mahindra Bank has received an intimation from Life Insurance Corporation of India (LIC) stating that the Reserve Bank of India had granted its approval to LIC, for increasing its holding in the bank up to 9.99 per cent of the  paid-up equity share capital of the bank,&#8221; Kotak said in a regulatory filing on Monday.<\/p>\n<p> The hike in stake by LIC is subject to RBI&#8217;s master directions on prior approval for acquisition of shares or voting rights in private sector banks and on ownership in private sector banks.<\/p>\n<p> It is also subject to Sebi regulations Foreign Exchange Management Act among others.<\/p>\n<p> The approval is valid for a period of one year, Kotak said.<\/p>\n<p> As of September 30, 2021, LIC held 4.96 per cent stake in the bank, as per data on BSE. PTI SUM  SUM SHW SHW<\/p>\n<div class=\"trade-after-content\" id=\"trade-473167226\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Nov 29 (PTI) Shares of Kotak Mahindra Bank on Monday gained nearly 3 per cent as insurance behemoth LIC will raise its stake in the private sector lender to nearly 10 per cent. The stock jumped 2.92 per cent to close at Rs 2,020.20 on the BSE. During the day, it gained 4.10 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-5816","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kotak Mahindra Bank shares gain nearly 3 pc as LIC to up stake in co - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-stocks-kotakbank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kotak Mahindra Bank shares gain nearly 3 pc as LIC to up stake in co\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Nov 29 (PTI) Shares of Kotak Mahindra Bank on Monday gained nearly 3 per cent as insurance behemoth LIC will raise its stake in the private sector lender to nearly 10 per cent. 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