Kotak Mah Bank gains after its arm acquires PineBridge MF schemes
Source: IRIS | 19 Sep, 2014, 01.43PM
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 Kotak Mahindra Bank, one of the leading private sector lenders, shares, witnessed a rise in share prices on Friday after the bank's subsidiary Kotak Mahindra Asset Management Company (KMAMC) announced that it has executed definitive agreement to acquire the domestic schemes of PineBridge Mutual Fund (PBI MF), subject to regulatory approvals. PBI MF is managed by PineBridge Investments Asset Management Company (India).
 Shares of the bank are trading at Rs 1,068, up Rs 20.55, or 1.96% at the Bombay Stock Exchange (BSE) on Friday at 1:30 p.m. The scrip has touched an intra-day high of Rs 1,068.50 and low of Rs 1,048.30. The total volume of shares traded at the BSE is 18,266.
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