Kotak Mahindra Bank allots 500802 Equity Shares

Kotak Mahindra Bank Ltd has announced that the ESOP Allotment Committee of the Bank at its Meeting held on September 13, 2010 has allotted 5,00,802 equity shares of Rs. 10/- each, pursuant to exercise of Employee Stock Options.

The allotment includes ESOP Scheme Series 2005/05 - 4,09,100 equity shares, ESOP Scheme Series 2007/04 - 7,500 equity shares, ESOP Scheme Series 2007/12 (2nd Tranche) - 37,262 equity shares, ESOP Scheme Series 2007/15 (1st Tranche) - 37,500 equity shares, ESOP Scheme Series 2007/17 (1st Tranche) - 8,100 equity shares and ESOP Scheme Series 2007/18 (1st Tranche) - 1,340 equity shares.

The stock was trading at Rs.454.95, up by Rs.24.05 or 5.58%. The stock hit an intraday high of Rs.459.50 and low of Rs.434.

The total traded quantity was 2.01 lakhs compared to 2 week average of 0.83 lakhs.

Source : Equity Bulls

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