Stocks
Macquarie Bank reduces its stake in Karnataka Bank

Macquarie Bank sold 11.12 lakh shares or its 0.59% stake out of 2.35% stake in Karnataka Bank at an average price of Rs135.2 per share 

 
Mumbai: Investment services provider Macquarie Bank has reduced its stake in Karnataka Bank by offloading over 11 lakh shares of the private sector lender for Rs15 crore, reports PTI.
 
Macquarie Bank, which held 44.28 lakh shares or 2.35% stake in Karnataka Bank at the end of September quarter, sold 11.12 lakh shares (amounting to 0.59% holding)of the banking entity, as per bulk data available with the stock exchanges.
 
The shares were sold on an average price of Rs135.17 apiece valuing the deal to Rs15.03 crore.
 

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RBS buys 2.5 crore shares in 19 companies for Rs407 crore

RBS bought these shares from ABN Amro Bank through various bulk deals by paying over Rs407 crore 

 
Mumbai: Royal Bank of Scotland (RBS) has bought about 2.5 crore shares in 19 companies including Adani Enterprises, HCL Infosystems and Infosys for a little over Rs407 crore from ABN Amro Bank, reports PTI.
 
The shares were bought in these companies from ABN Amro Bank through various bulk deals.
 
As per information available with the stock exchanges, The Royal Bank of Scotland Asia Merchant Bank (Singapore) bought a total of 2.46 crore shares in these companies for Rs407.56 crore.
 
RBS has also purchased shares in Infosys, SKS Microfinance, Jindal Stainless, Diamond Power Infrastructure, Brigade Enterprises, Anant Raj Industries and Banswara Syntex.
 
It also purchased shares in Aditya Birla Nuvo, Bajaj Auto, Glenmark Pharma, HUL, Tata Steel and Essar Shipping, among others.
 
Individually, RBS acquired 80.62 lakh shares of Adani Enterprises worth Rs181.19 crore, it also bought 11.50 lakh scrips of HCL Infosystems valued at Rs5.26 crore. The banking firm also acquired 1.5 lakh shares in Infosys for Rs35.10 crore.
 
The bank also bought 12 lakh shares of Jindal Stainless for Rs8.29 crore and 17.5 lakh scrips of SKS Microfinance valued at Rs21.61 crore. RBS also acquired two lakh shares in Anant Raj Industries for Rs16.25 crore.
 

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Kotak Mahindra Bank Q2 net profit up 16% to Rs502 crore

While Kotak Mahindra Bank's total revenues increased over 47%, its net interest margin declined to 4.7% from 4.8% same period a year ago

 
Mumbai: Kotak Mahindra Bank reported a 16% rise in consolidated net profit at Rs502 crore in the second quarter ended 30th September on the back of higher core income from the banking unit, reports PTI.
 
The private sector bank's total income rose 47.24% to Rs4,035.75 crore compared with Rs2,740.84 crore in the same period last fiscal.
 
"Out of the consolidated profit of Rs502 crore, a major chunk of Rs280 crore was contributed by our banking operation, while the rest came from other entities like Kotak Mahindra Prime, Kotak Securities and Kotak Mahindra Old Mutual Life Insurance, among others," Group Chief Financial Officer Jaimin Bhatt told reporters here, while announcing the Q2 earnings.
 
Kotak Mahindra Prime posted a net profit of Rs114 crore, while in case of Kotak Securities it was Rs40 crore. Kotak Mahindra Old Mutual contributed Rs47 crore and profit of Kotak Mahindra Investments stood at Rs16 crore.
 
Bhatt said the net interest margin (NIM) came down to 4.7% in the July-September period compared to 4.8% a year earlier.
 
He said consolidated advances rose 21% to Rs61,255 crore, helping the balance-sheet cross Rs1 lakh crore- mark for the first time.
 
On the asset quality front, gross NPA improved a tad to 1.35% against 1.38% a year ago, while net NPA rose to 0.63% from 0.46%.
 
On a standalone basis, Kotak Mahindra Bank posted a 7.8% rise in net profit at Rs280 crore in the reporting quarter, as it had to make a provision of Rs42 crore, following acquisition of an NPA account from a NBFC.
 
However, its net interest income (NII) rose a healthy 25% to Rs758 crore against Rs605 crore. Advances rose 22% to Rs45,443 crore in Q2, while deposits grew 25% to Rs45,463 crore.
 
The low-cost CASA deposit base rose to 27.5% on the back of higher deposit rate offering on the savings accounts.
 
"We hope that the CASA will grow by around 1% every quarter in the near future," Kotak Mahindra Bank Joint Managing Director Dipak Gupta said.
 
Referring to loan growth, Gupta said farm loans witnessed highest growth in the last quarter.
 

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