Latest news with #KotakMahindraBankLtd.
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Business Standard
6 days ago
- Business
- Business Standard
Kotak Bank launches Solitaire to target India's growing affluent class
By Advait Palepu and Apoorva Ajith Kotak Mahindra Bank Ltd. is extending wealth management and bespoke services to its affluent customers as competition for servicing India's rapidly-growing tribe of rich individuals heats up. The Mumbai-based private lender backed by billionaire Uday Kotak Wednesday launched 'Kotak Solitaire,' an offering targeted at salaried customers with Rs 0.75 crore ($86,786) in relationship value and self-employed clients with Rs 1 crore. 'The affluent segment is growing twice as fast the rest of the wealth market,' said Rohit Bhasin, chief marketing officer at Kotak Mahindra Bank. Through Solitaire, Kotak is looking to grow its 4 per cent market share among affluent Indians by offering them banking and investment products and services usually reserved for the wealthy and super-rich, he said. The move comes as independent wealth managers like 360 One WAM Ltd., Nuvama Wealth Management Ltd. and Blackstone Inc.-backed ASK Group are spreading out across the country to woo high networth individuals beyond India's metropolitan centers. 'This is a stickier customer, you can earn more from affluent customers and their needs pan out across products,' Bhasin said. More than a third of the bank's business comes from its affluent customers, he added. Kotak is India's fourth-largest private bank after HDFC Bank Ltd., ICICI Bank Ltd. and Axis Bank Ltd. Its private banking division is among the largest wealth managers in the country, catering to individuals with over $1 million in investable assets and servicing 60 per cent of India's top 100 families. Solitaire's offerings include dedicated relationship managers, access to alternative assets, portfolio management services and lifestyle products, the bank said in a release. For businesses, there will be enhanced working capital loans, payments, cash management and forex services. Kotak managed assets worth Rs 8.45 trillion across its private banking, priority banking and investment advisory divisions as of March 31. The bank's shares closed 0.5 per cent higher at Rs 2,170.40 in Mumbai on Wednesday.
Economic Times
08-07-2025
- Business
- Economic Times
Stock market update: Nifty Bank index advances 0.54%
NEW DELHI: The Nifty Bank index closed on a positive note on Tuesday. ADVERTISEMENT Shares of Kotak Mahindra Bank Ltd.(up 3.48 per cent), Au Small Finance Bank Ltd.(up 0.74 per cent), State Bank of India(up 0.72 per cent), HDFC Bank Ltd.(up 0.71 per cent) and ICICI Bank Ltd.(up 0.44 per cent) ended the day as top gainers in the pack. On the other hand, Axis Bank Ltd.(down 0.83 per cent), Federal Bank Ltd.(down 0.73 per cent), Bank of Baroda(down 0.56 per cent), Canara Bank(down 0.5 per cent) and IndusInd Bank Ltd.(down 0.49 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.54 per cent up at 57256.3. Benchmark NSE Nifty50 index ended up 61.21 points at 25522.5, while the BSE Sensex stood up 270.01 points at 83712.51. Among the 50 stocks in the Nifty index, 26 ended in the green, while 24 closed in the red. ADVERTISEMENT Shares of JP Power, Vodafone Idea, Alok Industries, RattanIndia Power and PC Jeweller were among the most traded shares on the NSE. Shares of Sambhv Steel Tubes, Belrise Industries, Parsvnath Dev., Gabriel India and Ellenbarrie Ind. Gas hit their fresh 52-week highs in today's trade, while Nectar Lifesc, PVP Ventures Ltd., Sadhana Nitro, Creative Peripherals and Anisha Impex hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
09-06-2025
- Business
- Time of India
Stock market update: Nifty Bank index advances 0.46%
NEW DELHI: The Nifty Bank index closed on a positive note on Monday. Shares of Kotak Mahindra Bank Ltd.(up 3.13 per cent), Au Small Finance Bank Ltd.(up 3.0 per cent), Federal Bank Ltd.(up 2.37 per cent), Axis Bank Ltd.(up 2.12 per cent) and Punjab National Bank(up 1.84 per cent) ended the day as top gainers in the pack. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Most Expensive Cars In The World On the other hand, ICICI Bank Ltd.(down 1.71 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.46 per cent up at 56839.6. Benchmark NSE Nifty50 index ended up 100.16 points at 25103.2, while the BSE Sensex stood up 256.22 points at 82445.21. Live Events Among the 50 stocks in the Nifty index, 39 ended in the green, while 11 closed in the red. Shares of Vodafone Idea , JP Power , Reliance Power , Suzlon Energy and Capri Global were among the most traded shares on the NSE. Shares of Indef Manufacturing , Hybrid Financial Services , TVS Electronics , Sudarshan Chemical and MCX India hit their fresh 52-week highs in today's trade, while Shree Ram Proteins, Varanium Cloud, Techindia Nirman, BSL Ltd and United Drilling hit their fresh 52-week lows.
Time of India
30-04-2025
- Business
- Time of India
Stock market update: Nifty Bank index falls 0.41% in an upbeat market
NEW DELHI: The Nifty Bank index traded negative around 11:21AM(IST)on Wednesday in an upbeat market. Kotak Mahindra Bank Ltd.(up 0.97 per cent) and HDFC Bank Ltd.(up 0.69 per cent) were among the top gainers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Undo Au Small Finance Bank Ltd.(down 2.92 per cent), State Bank of India(down 2.71 per cent), IDFC First Bank Ltd.(down 2.66 per cent), Federal Bank Ltd.(down 2.29 per cent) and Punjab National Bank(down 1.59 per cent) were the top losers on the index. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0.00% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. The Nifty Bank index was down 0.41 per cent at 55161.95 at the time of writing this report. Benchmark NSE Nifty50 index was up 11.05 points at 24347.0, while the BSE Sensex was up 51.64 points at 80340.02. Live Events Among the 50 stocks in the Nifty index, 31 were trading in the green, while 19 were in the red. Shares of Vodafone Idea, Vishal Mega Mart, Suzlon Energy, YES Bank and Reliance Power were among the most traded shares on the NSE. Shares of Kilitch Drug, Chambal Fertilisers, Mazagon Dock Ship, Mangalore Chem and Max Financial hit their fresh 52-week highs in today's trade, while Keerti Knowledge, GI Engineering, AGS Transact Tech, Gujarat Lease and Gensol Engg hit fresh 52-week lows in trade.
Bloomberg
28-01-2025
- Business
- Bloomberg
SoftBank-Backed Lenskart Said to Tap Banks for $1 Billion IPO
By and Manuel Baigorri Save Indian eyewear company Lenskart Solutions Pvt is poised to hire arrangers including Kotak Mahindra Bank Ltd. and Morgan Stanley for an initial public offering in Mumbai this year, people familiar with the matter said. Other banks may join to work on a share sale that could help the SoftBank Group Corp. -backed company raise about $1 billion, according to the people, who asked not to be identified because the deliberations are private. Lenskart may seek a valuation of about $8 billion in a potential offering, the people said.
