StockPick for this week is Kotak Mahindra Bank
Bank was first established as a Non Banking Financial Company and had a tie-up with Mahindra & Mahindra for the purpose of vehicle financing and was named Kotak Mahindra Finance back then. In February 2003, Kotak Mahindra Finance Ltd, the group’s flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). This approval created banking history since Kotak Mahindra Finance Ltd. is the first non–banking finance company in India to convert itself into a bank as Kotak Mahindra Bank Ltd. Major Subsidiaries of the bank are Kotak Mahindra Prime, Kotak Mahindra Investments, Kotak Securities, Kotak Mahindra Capital, Kotak Mahindra Life Insurance, Kotak Mahindra General Insurance, Kotak AMC, Kotak Investment Advisors, Kotak Capital Company.
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