Kotak Mahindra Bank stock jumps over 10% on report of Berkshire investment
Reuters | Updated: Dec 7, 2018, 13:09 ISTHighlights
- Kotak shares rose as much as 10.2 per cent to Rs 1,302, their highest since September 4.
- The stock posted its biggest intraday gain since November 2014
(Representative image)NEW DELHI: Shares of Kotak Mahindra Bank Ltd jumped as much as 10.2 per cent on Friday after a TV channel reported that Warren Buffett's Berkshire Hathaway Inc is planning to invest about $4 billion to $6 billion in the bank.
Berkshire Hathaway may invest in the lender by buying promoter stake or through a preferential allotment, the report said.
Kotak shares rose as much as 10.2 per cent to Rs 1,302, their highest since September 4. The stock posted its biggest intraday gain since November 2014.
Kotak Mahindra Bank and Berkshire Hathaway were not immediately available to comment on the matter.
Berkshire Hathaway may invest in the lender by buying promoter stake or through a preferential allotment, the report said.
Kotak shares rose as much as 10.2 per cent to Rs 1,302, their highest since September 4. The stock posted its biggest intraday gain since November 2014.
Kotak Mahindra Bank and Berkshire Hathaway were not immediately available to comment on the matter.
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