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    Vikshita Vitthal Gujaran in News

    11-Apr-2023 10:18 AM


    Kotak Mahindra Bank may weigh heavier on MSCI as foreign holding dips to 41.22%

    Kotak Bank's foreign room is 22.38 percent.
    As per the MSCI guidelines, if a security's foreign room is less than 25 percent and equal to or higher than 15 percent, then the index provider uses an adjustment factor of 0.5 to reflect the actual level of foreign room.
    Also Read: Credit growth likely to remain strong in Q4, says Kotak Bank's Shanti EkambaramOn April 11, Kotak Mahindra Bank shares opened 4 percent higher on the NSE.
    As the stock has been a laggard over the past one year, up only 3 percent, analysts expect the MSCI liquidity event to lead to a strong momentum.
    In the third quarter, the bank beat Street estimates and delivered a 31 percent growth in net profit at Rs 2,792 crore.