Kotak Bank shares jump over 6%

Kotak Mahindra Bank Ltd jumped as much as 6.33 per cent to Rs 1,255, their biggest percentage gain since May 31

Warren Buffett’s Berkshire Hathaway is looking to buy 10 per cent stake in Kotak Mahindra Bank. Berkshire Hathaway may look to invest $4-$6 billion in Kotak by buying promoter stake or via preferential allotment.

More than 3.7 million shares traded as of 0508 GMT vs 30-day average volume of 2.5 million. Kotak Mahindra Bank stock had risen 16.8 per cent this year as of last close, compared with a 2.6 per cent gain in the Nifty Bank index.

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