Kotak Mahindra Bank share rises 2% after lender cuts promoter stake in line with RBI norms

Share price of private sector lender Kotak Mahindra Bank gained nearly 2% intra day after the bank announced it has achieved compliance with the RBI norms in respect of dilution of promoter Uday Kotak’s shareholding. Following the announcement, Kotak Mahindra Bank share price rose up to 1.83% to Rs 1,385 against previous close of Rs 1,360 on BSE.
Kotak Mahindra Bank share trades higher than their 5, 20 and 50 day moving averages but lower than 200-day moving averages. Kotak Mahindra Bank share…

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