BOM:500247

Samvardhana Motherson Raises INR3 Billion Via Commercial Paper Issue to Kotak Mahindra Bank

Samvardhana Motherson International (NSE:MOTHERSON, BOM:517334) issued commercial paper worth 3 billion Indian rupees to Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247).The instrument issued on June 6 carries an interest rate of 7.20% and will mature on September 11, according to a stock exchange filing.

Avendus Spark Downgrades Kotak Mahindra Bank to Add from Buy; Price Target is INR436

Emkay Global Upgrades Kotak Mahindra Bank to Add from Reduce; Price Target is INR430

Nomura Adjusts Kotak Mahindra Bank's Price Target to INR460 From INR445, Keeps at Buy

Standard Chartered to Sell Indian Credit Card Portfolio to Federal Bank

Standard Chartered (HKG:2888) agreed to sell the bulk of its Indian credit card portfolio to India's The Federal Bank (NSE:FEDERALBNK, BOM:500469), according to media reports Thursday.The bank, which had about 640,000 credit cards in India as of March, had been reviewing offers from Federal Bank and Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247) ahead of the agreement, Reuters reported.The firms did not disclose the transaction value of the sale, which is expected to close by the end of 2026.

Kotak Mahindra Bank's Consolidated Profit Rises in Fiscal Q4

Kotak Mahindra Bank's (NSE:KOTAKBANK, BOM:500247) consolidated profit after tax rose to 54.2 billion Indian rupees in the fiscal fourth quarter ended March 31, from 49.3 billion rupees a year ago.Earnings per share came in at 5.45 rupees from 4.96 rupees a year earlier, according to a Saturday filing to the Indian stock exchanges.Interest earned by the lender in fiscal Q4 increased to 178.3 billion rupees from 167.7 billion rupees a year ago.The bank's board proposed a dividend of 0.65 rupees per share, having a face value of 1 rupee each, for the year ended March 31.

PCBL Chemical Allots Commercial Papers Worth INR2 Billion

PCBL Chemical (NSE:PCBL, BOM:506590) has allotted commercial papers worth 2 billion Indian rupees to Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247), according to a Thursday filing to the Indian stock exchanges.The chemical manufacturer allotted 4,000 units of commercial paper of a face value of 500,000 rupees each at a coupon rate of 6.38% per annum.The commercial papers have a tenure of 90 Days and are scheduled to mature on July 22.

APL Apollo Tubes Allots Commercial Papers Worth INR1 Billion

APL Apollo Tubes (NSE:APLAPOLLO, BOM:533758) has allotted commercial papers worth 1 billion Indian rupees to Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247), according to a Wednesday filing to the Indian stock exchanges.The commercial papers have been allotted at the rate of 6.15% per annum. They have a tenure of 64 Days and are scheduled to mature on June 25.The company's shares were up nearly 1% in recent trade.