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Kotak Mahindra Bank share cost rises 3% – why?

Kotak Mahindra bank raise 3 per cent of the stock price on 19th October and the reason is because LIC of India marked a place in the company holding share price.

As per the latest reports there is news all over the market that the life insurance corporation of India [LIC] has expanded the stakes in Kotak by the end of September 2020

As LIC is a very big organization that is why Kotak is increasing the share prices by 3 per cent.

LIC has expanded its shareholding to 3.18 per cent from 2.45 per cent, as it has purchased extra 14,523,574 offers in the organization.

LIC presently holds 6,29,92,740 offers in the organization according to September quarter information as against 4,84,69,166 in June 2020.

The offer contacted its 52-week high Rs 1,739.95 and 52-week low Rs 1,000.35 on 19 February, 2020 and 19 March, 2020, separately.

Right now, it is exchanging 20.98 per cent beneath its 52-week high and 37.45 per cent over its 52-week low.

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