March 8, 2017 / 4:24 AM / 5 months ago

BUZZ-India's Kotak Mahindra rises to record high after block deal

1 Min Read

** Shares of Kotak Mahindra Bank Ltd rise as much 2.69 pct to a record high

** Stock top pct gainer on the NSE index

** About 27.6 mln shares change hands in a single block deal on the BSE

** Block deal by unknown buyer comes after the central bank last month asked the lender's founders to cut stake in phases

** Canadian pension fund Caisse de Depot et Placement du Quebec (CPPQ) is looking to buy a stake in the bank among other suitors, Bloomberg reports, citing people with knowledge of the matter (bloom.bg/2m0Dabf)

** Kotak Mahindra declined to comment on the block deal

** Stock up 14 pct this year as of Tuesday's close

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