Kotak plunges 3% as Bombay HC denies stay on RBI deadline
Kotak Mahindra Bank shares on Monday fell around 3% after Bombay High Court refused to grant stay on Reserve Bank of India's (RBI) deadline for promoter stake dilution. The lender had moved court after RBI restricted it from reducing promoter holding through a preference share sale. RBI has mandated the lender to trim promoter shareholding to 20% by December 31. 