Kotak Bank seen interested in Karnataka Bank

TALK of Karnataka Bank being acquired refuses to die down. A couple of weeks ago, there was a speculation about Axis Bank looking to buy Karnataka Bank. The latest buzz is that Kotak Mahindra Bank may be in talks to buy the private bank. Senior Kotak Bank officials denied that they were in talks to buy out Karnataka Bank. But investors seem to be convinced about the possibility of Karnataka Bank being a takeover target. The stock, which has gained about 23% in a month, closed at Rs 161, up roughly 3% on Thursday.

'Dutchman MF' woos sellers with Frankfurt junket

THE 'Dutchman' is leaving no stone unturned to ensure the success of its equity funds. Sources say that 'Dutchman Mutual Fund' has dangled a 'Frankfurt' carrot to distributors. Accordingly, if a distributor sells 200 equity SIPs of 'Dutchman MF' (aggregate SIP amount being Rs 2,500) by July end, the fund house will take the distributor on a five-day 'all-expenses-paid' trip to Frankfurt. If industry grapevine is to be believed, 'Dutchman MF' has given this offer to only big distributors like 'Baja Captain' and 'Enjoy Invest'.

Basket-selling helps FIIs reduce exposure to SBI

SOME FIIs appear to be grabbing with the opportunity that basket-selling in index stocks in recent sessions has presented in some stocks. The buzz is that this selling reduced FII holdings in SBI, where these investors are not allowed to hold more than 20% of its total equity capital. According to brokers, Merry Lunch bought a sizeable chunk of shares in SBI on Thursday, on behalf of its clients. The stock rose by 2.38% to close at Rs 2,327.05 on Thursday.
Contributed by Nishanth Vasudevan, Apurv
   Gupta, Shailesh Menon & Harish Rao