Shares of Kotak Mahindra Bank on Thursday ended nearly 3 per cent lower after the company announced that its Joint Managing Director K V S Manian has stepped down with immediate effect. .The lender's stock declined 2.95 per cent to settle at Rs 1,575.80 on the BSE. During the day, it tanked 4.38 per cent to hit a 52-week low of Rs 1,552.55.At the NSE, it dipped 2.82 per cent to finish.