Kotak Mahindra Bank falls over 4% on block deals; ING may have sold stake

Kotak Mahindra Bank shares fell over 4 percent in morning trade as 8.3 crore shares worth Rs 10,307 crore traded on both indices.

"5.87 crore shares (3% stake) equity trade in multiple blocks. ING may have sold stake in Kotak Mahindra Bank via block deal," said CNBC-TV18.

There were media reports which suggested that ING Mauritius Investments is likely to sell 1.2 percent in Kotak Mahindra Bank (KMB) via block deal at ~3-5 percent discount.

ING Group may sell 23 lakh shares, or 1.20 percent equity, at the price of Rs 1,125-1,250 per share, said multiple media reports.

On February 21, the Kotak Mahindra stock closed marginally lower at Rs 1,288.90 on the BSE.

ING Group merged its banking unit, ING Vysya Bank, with Kotak Mahindra Bank in November 2014. After the deal, the former held 6.5 percent stake in the merged entity, but offloaded some its stake later.

At 10:00 hrs, the Kotak Bank stock was trading at Rs 1,242, down 46.90 points or -3.64%, on the BSE.

Source:https://www.moneycontrol.com/news/business/markets/kotak-mahindra-bank-falls-over-4-on-block-deals-ing-may-have-sold-stake-3570881.html

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Sensex, Nifty open flat with negative bias; Kotak Mahindra Bank falls 4%

Market Opens: Benchmark indices opened flat with negative bias on Friday with Nifty holding above 10,750 level.

At 09:17 hrs IST, the Sensex is down 36.45 points at 35861.90, while Nifty was down 15.10 points at 10774.80. About 400 shares have advanced, 347 shares declined, and 38 shares are unchanged. 

Bajaj Auto, Maruti Suzuki, ICICI Bank, HUL, BPCL, HPCL, IOC, HDFC Bank are the top gainers in the morning, while losers is Kotak Mahindra Bank.

Rupee Opens: The Indian rupee opened flat at 71.25  per dollar on Friday versus previous close 71.25.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-nifty-opens-flat-with-negative-bias-kotak-mahindra-bank-falls-4-3570331.html

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Indices trade flat with a positive bias; TechM approves buyback at Rs 950/sh

Market Opens: It is flat start for the benchmark indices on Thursday with Nifty hovering around 10,750 mark

The Sensex is up 7.59 points at 35763.85, while Nifty is down 5.30 points at 10730.20. About 428 shares have advanced, 333 shares declined, and 42 shares are unchanged. 

Tech Mahindra, Allahabad Bank, ICICI Bank, SBI, Indiabulls Housing, are among major gainers, while losers are Reliance Power, BPCL, HPCL, IOC, Bharti Airtel, Vodafone Ida, TCS and Yes Bank.

Tech Mahindra to BSE: Approved the proposal for buyback by the Company of its own fully paid equity shares of Rs 5 each not exceeding 20,585,000 equity shares. The record date will be March 6, 2019 at an offer price of Rs 950 for an aggregate amount not exceeding Rs 1,956 crore. 

Rupee Opens: The Indian rupee opened marginally higher at 71.07 per dollar on Thursday versus previous close 71.11.

Source:https://www.moneycontrol.com/news/business/markets/market-live-indices-trade-flat-with-a-positive-bias-techm-approves-buyback-at-rs-950sh-3565841.html

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Closing Bell: Nifty ends close to 10,750, Sensex up 403 pts; metal, oil stock in focus

Market at close: Indian indices bounced back and broke the 8-day losing streak on Wednesday with Nifty ended near to 10,750 mark helped by metal, IT and oil & gas stocks.

The Sensex was up 403.65 points at 35756.26, while Nifty was up 131.10 points at 10735.50. About 1468 shares have advanced, 1107 shares declined, and 161 shares are unchanged. 

Top gainers include Indiabulls Housing, Vedanta, Tata Steel, Adani Ports and Hindalco Industries, while losers are Zee Entertainment, Hero Motocorp, Dr Reddy’s Labs, HUL and Bajaj Auto.

All the sectoral indices ended in green led by metal, IT, energy, infra, bank, pharma and auto stocks.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-close-to-10750-sensex-up-403-pts-metal-oil-stock-in-focus-3560501.html

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