Kotak Mahindra Bank rises on opening 100 gold loan branches in FY23

Kotak Mahindra Bank is currently trading at Rs. 1719.00, up by 21.70 points or 1.28% from its previous closing of Rs. 1697.30 on the BSE.

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Kotak Mahindra Bank

The scrip opened at Rs. 1698.80 and has touched a high and low of Rs. 1719.55 and Rs. 1689.70 respectively. So far 22333 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1997.00 on 18-Nov-2022 and a 52 week low of Rs. 1630.00 on 30-Jun-2022.

Last one week high and low of the scrip stood at Rs. 1766.60 and Rs. 1688.05 respectively. The current market cap of the company is Rs. 340267.61 crore.

The promoters holding in the company stood at 25.95%, while Institutions and Non-Institutions held 60.99% and 13.05% respectively.

Kotak Mahindra Bank (KMBL) has opened 100 Gold Loan branches, in this financial year, so far. As of March 31, 2022, the Bank was offering Gold Loans through its 400 branches. With the addition of 100 Gold Loan branches in this FY, Kotak Mahindra Bank now offers Gold Loans through its 500 branches spread over 253 cities across the country. The Bank plans to further expand its Gold Loans branch network by opening another 50 branches in the ongoing financial year.

Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

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