Earlier in the day, Kotak Mahindra Bank shares climbed 1.8% to an all-time high of Rs1,170.15 apiece. Photo: MintMumbai: Shares of private lender Kotak Mahindra Bank Ltd on Monday beat India’s largest lender State Bank of India (SBI) for the first time to become the second most valued bank in the country. Data from BSE showed that Kotak Mahindra Bank has a market capitalization of Rs2,22970.40 crore, after its shares closed 1.88% on Monday to record high of Rs 1170.05. Earlier in the day, Kotak Mahindra Bank shares climbed 2.22% to an all-time high of Rs1,174 apiece. After the PNB fraud came to light, SBI shares declined nearly 10%, while Nifty PSU Bank index slumped 18.4%.

Source: Mint April 16, 2018 09:15 UTC