SBI MF raises stake in Kotak Mahindra Bank

New Delhi: SBI Mutual Fund has increased its stake in Kotak Mahindra Bank to over 5 per cent.In a regulatory filing on Tuesday, Kotak Mahindra Bank said that the fund house purchased 21.57 lakh shares through the open market on June 5.

With the fresh addition, SBI Mutual Fund’s stake in Kotak Mahindra Bank increased to 5.01 per cent, it said. Shares of Kotak Mahindra Bank were trading 1.35 per cent lower at Rs 1,722 apiece on the BSE.