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Kotak Mahindra Bank top open interest loser; witnesses profit booking

Kotak Mahindra Bank Limited recorded surge in its stock price on Thursday, owing to rumours in the market about Kotak to buy government stake in Axis Bank.

In Monday’s trading session, Kotak Mahindra Bank Limited witnessed decline in its open interest by 1.53% , and is the top open interest loser.

The stock is showing weakness in the morning hours on Monday. The stock opened in red and touched a low of Rs 803.25 per share, down by Rs 7.70 per share or 1%.

With decline in the open interest and share price, Kotak Mahindra Bank witnessed profit booking in first half of Monday’s trading session.

Stock View:

Kotak Mahindra Bank Ltd is currently trading at Rs 804.35, down by Rs 4.5 or 0.56% from its previous closing of Rs 808.85 on the BSE.

The scrip opened at Rs 803 and has touched a high and low of Rs 812.7 and Rs 802.95 respectively. So far 419144(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 148817.6 crore.

The BSE group ‘A’ stock of face value Rs 5 has touched a 52 week high of Rs 836 on 15-Nov-2016 and a 52 week low of Rs 586.5 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs 812 and Rs 790 respectively.

The promoters holding in the company stood at 33.61 % while Institutions and Non-Institutions held 45.31 % and 21.08 % respectively.

The stock is currently trading above its 200 DMA.