US-Founded Oppenheimerfunds is part of the global investment firm Invesco.
According to the Bulk deal data about the NSE, Oppenheimerfunds via his partner-Oppenheimer Funds Inc a/C Oppenheimer Developing Market Markets Fund-sold a total of 1.03.57.024 Crore shares that have a 0.52 percent interest in Mumbai-based Kotak Mahindra Bank.
The shares were thrown away at an average price of RS 1,965.20 each, so that the transaction value was brought to RS 2,035.36 Crore.
Details of the buyers of the shares of Kotak Mahindra Bank could not be determined on the stock exchange.
Shares of Kotak Mahindra Bank fell 0.41 percent to close to RS 1,994.20 each on the NSE. In May of this year, Kotak Mahindra Bank reported a decrease of 14 percent in independent profit to RS 3,552 Crore for the quarter of January-March of 2024-25 compared to RS 4,133 Crore in the last quarter of 2023-24. The total income of the bank rose to RS 16,712 Crore in the quarter of RS 15,285 Crore in the same period a year ago, said Kotak Mahindra Bank.
During the quarter, the bank earned interest income from RS 13,530 Crore against RS 12.307 Crore in the same period a year ago. The net interest income (NII) rose to RS 7,284 Crore, from RS 6,909 Crore in Q4FY24, with a modest increase of 5 percent, it added.
#Oppenheimerfunds #sells #shares #Kotak #Mahindra #Bank