Sumitomo Mitsui Banking Corporation divested its 1.65% stake in Kotak Mahindra Bank for Rs 6,256 crore through block deals, with shares sold at Rs 1,940.8 apiece to various domestic and foreign investors. Kotak Mahindra Bank's shares closed higher, despite trading below key moving averages.
Privately owned and operated RaceTrac is expected to close the Potbelly acquisition in the fourth quarter, pending shareholder and regulatory approval. The merger would pair two venerable but very different companies.