Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
09 December, 2021 18:12 IST
Kotak Mahindra Bank divests 10% stake in ECA Trading Services to its arm
Source: IRIS | 08 Mar, 2021, 09.07AM
Rating: NAN / 5 stars.
Comments  |  Post Comment

 Kotak Mahindra Bank, one of the leading private sector lenders has divested 10% stake in ECA Trading Services (ECA) to one of its subsidiaries for nearly Rs 20 million.

The Bank has sold 1,09,48,925 equity shares of Rs 10 each (10% of its stake) of ECA Trading Services to Kotak Securities (a wholly-owned subsidiary of the bank), at a consideration of Rs 19.8 million.

The Bank has appointed Ashok Gulati as Additional and Independent Director for a term of five years, with effect from Mar. 6, 2021 up to the next Annual General Meeting of the Bank, subject to the approval of the Members of the Bank.

Shares of the Bank gained Rs 26.25, or 1.38%, to trade at  Rs 1,923.75.  The total volume of shares traded  was 308,780 at the BSE (Friday).

The scrip has touched a high and low of Rs. 1,928 and Rs. 1,869.55 respectively. It touched a 52 week high of Rs. 2,048.95 on Feb 16, 2021 and a 52 week low of Rs. 1,000.35 on Mar 19, 2020.



 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
GMM Pfaudler approves ESOP Program for Key Employees - 09-Dec-2021 18:04
Karma Energy to divest entire stake in Batot Hydro Power - 09-Dec-2021 14:24
Venus Remedies receives nod under PLI Scheme - 09-Dec-2021 13:45
Nestle India receives approval under Production Linked Scheme - 08-Dec-2021 20:11
California Software signs MoU to acquire majority stake in Pratsware - 08-Dec-2021 19:43
Alembic Pharmaceuticals gets USFDA nod for Selexipag Tablets - 08-Dec-2021 18:24
ABB India partners with Indore Smart City Development - 08-Dec-2021 17:05
Hero Motocorp expands operations in Argentina - 07-Dec-2021 17:13
Biocon partners with Tabuk Pharmaceuticals - 07-Dec-2021 13:38
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer