The exit of Joint Managing Director KVS Manian dragged Kotak Bank’s stock by 3 percent. But Federal Bank, where he is tipped to join as per reports, gained 3 percent
CNBC-TV18 reported that SBFC Finance s promoter group was looking to offload a 5.45 percent stake in the lender, planning to earn Rs 536.50 crore from the transaction.
LIC, holding a 5.6 percent stake, comprising 75.77 lakh shares in the stock, suffered a loss of approximately Rs 266 crore, with its current value standing at Rs 2,166 crore