Meanwhile, the S&P BSE Sensex was up 206.60 points, or 0.59% to 35,518.73.

On the BSE, 5.34 lakh shares were traded in the counter so far compared with average daily volumes of 76,000 shares in the past two weeks. The stock had hit a high of Rs 1289.40 and a low of Rs 1177.30 so far during the day.

The stock hit a 52-week high of Rs 1,424 on 17 July 2018. The stock hit a 52-week low of Rs 992.50 on 9 January 2018.

According to reports, Berkshire Hathaway is looking to buy promoter stake or via a preferential allotment.

As per RBI guidelines, Uday Kotak needs to dilute his stake to below 20% by December 2018.

As on 30 September 2018, Uday Suresh Kotak held 29.729% stake in Kotak Mahindra Bank.

Kotak Mahindra Bank's net profit rose 14.82% to Rs 1141.65 crore on 22.79% increase in total income to Rs 7016.17 crore in Q2 September 2018 over Q2 September 2017.

As on 30 September 2018, Kotak Mahindra Bank has a national footprint of 1,425 branches and 2,236 ATMs.