Shares Of Kotak Mahindra Bank Fell Around 3 Percent On Thursday Morning

Shares of Kotak Mahindra Bank fell around 3 percent on Thursday morning as investors reacted to regulatory developments on Tuesday.

The stock touched an intraday high of Rs 1,271.00 and an intraday low of Rs 1,257.75.

Kotak Mahindra Bank's preferential issue does not meet the dilution norms, the Reserve Bank of India had said on Tuesday.

Under the norms of the licence given to the bank, the Founder and Promoter Uday Kotak was to reduce his stake in the bank to 20 percent by 2019 and 15 percent by 2020.

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