India's KFin Tech down after report of potential stake sale by Kotak Mahindra

Kfin Technologies

12/03/2024 04:08

** Shares of KFin Technologies  KFIN.NS  down 4.2% at 601.40
rupees; stock among top losers on Nifty 500 index  .NIFTY500 
    ** Kotak Mahindra Bank  KTKM.NS  likely to sell 2% stake
worth 2.18 bln rupees ($26.4 mln)in KFIN via block deals - local
media
    ** KTKM currently has a 9.8% stake in KFIN    
    ** If losses hold, KFIN on track to decline for the fourth
straight session; stock down 7.5% in last three sessions
    ** Reuters could not immediately ascertain the reason for
stock move in those sessions
    ** KFIN up ~24% YTD vs Nifty 500 index's 4% climb 

($1 = 82.7400 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))