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Paritosh Kashyap sells Kotak Mahindra Bank shares worth ₹151 million

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Published a year ago on Apr 25, 2020 2 minutes Read

It is not only FIIs who are selling Indian stocks with gusto, many company insiders are also at it. Paritosh Kashyap, non-executive director, Kotak Mahindra Bank recently sold 107,655 shares netting Rs.151 million. After the recent sale, Kashyap still holds 322,319 shares worth Rs.400 million. Kashyap earlier served as CEO of Kotak Mahindra Investments. It is not only Kashyap who has lightened his holding. Many Kotak veterans such as C Jayaram, Narayan SA, Jaimin Bhatt, Dipak Gupta, Gaurang Shah, D Kannan and Arvind Kathpalia also sold stock from February through March.
The stock was up 21% in FY20 until all that gain evaporated in the recent March carnage. In just under a month, the stock lost 35% to hit a 52-week low of Rs.1,001 on March 19 from its 52-week high of Rs.1,740 on February 19.