KARNATAKA BANK Surges by 13%; BSE BANKEX Index Up 4.5%

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KARNATAKA BANK Surges by 13%; BSE BANKEX Index Up 4.5%
Wed, 3 Jun 02:36 PM

KARNATAKA BANK share price has zoomed 13% and is presently trading at Rs 42.

Meanwhile, the BSE BANKEX Index is at 24,703 (up 4.5%).

Among the top Gainers in the BSE BANKEX Index today is KARNATAKA BANK (up 12.9%).

Over the last one year, KARNATAKA BANK has moved down from Rs 103 to Rs 42, registering a loss of Rs 61 (down 59.7%).

On the other hand, the BSE BANKEX has moved down from 35,547 to 24,703, loss of 10,844 points (down 30.6%) during the last 12 months.

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What About the Benchmark Indices?

The BSE Sensex is at 34,423 (up 1.7%).

The top gainers among the BSE Sensex stocks today are ICICI BANK (up 6.1%), SBI (up 5.2%) and BAJAJ FINANCE (up 5.1%). Other gainers include M&M (up 4.5%) and AXIS BANK (up 4.3%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 10,159 (up 1.8%). The top gainers in the NSE Nifty include ICICI BANK (up 6.4%), SBI (up 5.4%) and BAJAJ FINANCE (up 5.1%). Other gainers include M&M (up 4.7%) and KOTAK MAHINDRA BANK (up 4.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 40,268 to 34,423, registering a loss of 5,845 points (down 14.60%).

KARNATAKA BANK Financial Update...

KARNATAKA BANK net profit down at Rs 1 billion for the quarter ended December 2019, compared to a loss of Rs 1 billion a year ago. Operating income rose 7.1% to Rs 16.2 billion during the period as against Rs 15.1 billion in October-December 2018.

For the year ended March 2018, KARNATAKA BANK reported 2.3% increase in net profit to Rs 4.6 billion compared to net profit of Rs 4.5 billion during FY17.

Revenue of the company grew 4.6% to Rs 54 billion during FY18.

The current Price to earnings ratio of KARNATAKA BANK, based on rolling 12 month earnings, stands at 2.5x.



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