The stock closed at 382.65 rupees as the BSE Sensex fell 0.75% to 76,913.50 in a broadly weak Indian market session.
Kotak Mahindra outperformed peers, with IndusInd Bank up 0.25%, while ICICI Bank fell 1.37% and Yes Bank dropped 1.68%.
Shares remain 15.53% below their 52-week high of 452.98 rupees reached on 20 October, while trading volume of 1.4 million topped the 50-day average of 1.3 million.
Can Kotak's expensive tech overhaul and Deutsche Bank bid justify its premium valuation against cheaper rivals?
As Kotak aims to become a tech company, will its massive investment in AI and engineers truly deliver superior returns for investors?