Latest Stock Market News

"This is to inform you that the Board of Directors of Kotak Mahindra Bank have, at their meeting held today, inter alia, approved a proposal to enable the Board of Directors of the Bank to raise funds by way of issuance of Unsecured, Redeemable, Non-Convertible Debentures, on a private placement basis, for an amount up to Rs. 10,000 crore," Kotak said

For more such web stories click on the ET

The short-term trend of Nifty remains choppy. Having faced weakness after a small rise on Saturday signalled a weak bias for the market ahead. At the higher levels, the market could encounter strong overhead resistance around 21,750-21,850 levels and on the downside it could find support around 21,300 levels in the near term, said Nagaraj Shetti of HDFC Securities.

The issue is entirely fresh equity of Rs 745 crore with no offer-for-sale component. ​The public offer is being made through the book-building process, wherein about 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

The 52-week high is a crucial technical indicator for both traders and investors, reflecting the highest price the stock has attained in the preceding year.

Promoters held 58.69 per cent stake in the company as of 31-Dec-2023, while FIIs owned 22.56 per cent, DIIs 5.81 per cent.

IDBI Bank Q3 Results: Net interest income, the difference between interest earned and interest expended, rose 17.4% YoY in the quarter to Rs 3,434.60 crore.