The board approved the proposal to raise capital by issuing bondsPrivate sector lender Kotak Mahindra Bank said it will raise up to Rs 5,000 crore by issuing bonds. Kotak Mahindra Bank stock was trading at Rs 765.95 on BSE, down 2.08% from the previous close. The total earnings during the period also rose to Rs 5,120.03 crore as against Rs 4,583.86 crore in the year ago period. The capital raise plan was approved at the bank's board meeting held on Thursday. The bank today reported almost fourfold jump in net profit to Rs 741.97 crore in the first quarter ended June of current fiscal.

Source: dna July 21, 2016 10:03 UTC