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KARNATAKA BANK Surges by 5%; BSE BANKEX Index Up 0.9%

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KARNATAKA BANK Surges by 5%; BSE BANKEX Index Up 0.9%
Mon, 11 Mar 01:18 PM

KARNATAKA BANK share price has zoomed 5% and is presently trading at Rs 125.

Meanwhile, the BSE BANKEX Index is at 31,411 (up 0.9%).

Among the top Gainers in the BSE BANKEX Index today is KARNATAKA BANK (up 5.0%).

HDFC BANK (down 0.1%) and INDUSIND BANK (down 0.9%) are among the top losers today.

Over the last one year, KARNATAKA BANK has moved up from Rs 118 to Rs 125, registering a gain of Rs 7 (up 5.7%).

On the other hand, the BSE BANKEX has moved up from 27,560 to 31,411, registering a gain of 3,851 points (up 13.8%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 42.1%), ICICI BANK (up 26.6%) and KOTAK MAHINDRA BANK (up 15.1%).

What About the Benchmark Indices?

The BSE Sensex is at 37,000 (up 0.8%).

The top gainers among the BSE Sensex stocks today are BHARTI AIRTEL (up 4.6%), POWER GRID (up 4.1%) and NTPC (up 4.0%). Other gainers include COAL INDIA (up 3.6%) and HERO MOTOCORP (up 2.7%). The most traded stocks in the BSE Sensex are YES BANK and TATA STEEL.

In the meantime, NSE Nifty is at 11,154 (up 1.1%). HPCL (up 6.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,352 to 37,000, registering a gain of 3,648 points (up 10.9%).

KARNATAKA BANK Financial Update...

KARNATAKA BANK net profit stood at Rs 1 billion for the quarter ended December 2018, compared to a profit of Rs 874 million a year ago. Operating income rose 13.7% to Rs 15.1 billion during the period as against Rs 13.3 billion in October-December 2017.

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 8.2x.

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