A man walks past the Kotak Mahindra Bank branch in New Delhi.
Shares of India’s Kotak Mahindra Bank Ltd jumped as much as 8 percent on Friday after TV channels reported that Warren Buffett’s Berkshire Hathaway Inc is planning to invest about $4 billion to $6 billion in the bank.
Berkshire Hathaway may invest in the lender by buying promoter stake or through a preferential allotment, the television channel reported.
Kotak shares rose as much as 8.03 percent to 1,275 rupees, their highest since Sept. 4. The stock posted its biggest intraday gain since Nov. 2014.
Kotak Mahindra Bank and Berkshire Hathaway were not immediately available to comment on the matter.