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Karnataka Bank Gains 3%; BSE BANKEX Index Up 0.8%
Fri, 9 Aug 13:28

Karnataka Bank Gains 3%; BSE BANKEX Index Up 0.8%Image source: phive2015/www.istockphoto.com

Karnataka Bank share price has zoomed 3% and is presently trading at Rs 221.8.

Meanwhile, the BSE BANKEX index is at 57,477.2 (up 0.8%).

Among the top gainers in the BSE BANKEX index today are Federal Bank (up 1.5%) and Bank of Baroda (up 1.5%).

Indusind Bank (down 0.2%) and AU SMALL FINANCE BANK are among the top losers today.

Over the last one year, Karnataka Bank has moved up from Rs 215.4 to Rs 221.8, registering a gain of Rs 6.3 (up 2.9%).

On the other hand, the BSE BANKEX index has moved up from 50,325.8 to 57,477.2, registering a gain of 14.2% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were Federal Bank (up 46.8%), SBI (up 43.4%) and Bank of Baroda (up 29.3%).

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What About the Benchmark Indices?

The BSE Sensex is at 79,705.0 (up 1.0%).

The top gainers among the BSE Sensex today are Tata Motors (up 2.9%) and JSW Steel (up 2.8%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,361.3 (up 1.0%). Eicher Motor and Grasim Industries are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,705.0, registering a gain of 13,751.5 points (up 20.9%).

Karnataka Bank Financial Update...

Karnataka Bank net profit grew 8.0% YoY to Rs 4,004 million for the quarter ended June 2024, compared to a profit of Rs 3,707 million a year ago. Net sales rose 16.3% to Rs 22,780 million during the period as against Rs 19,587 million in April-June 2023.

For the year ended March 2023, Karnataka Bank reported 132.2% increase in net profit to Rs 11,797 million compared to net profit of Rs 5,080 million during FY22. Revenue of the company grew 16.0% to Rs 72,202 million during FY23.

The current Price to earnings ratio of Karnataka Bank, based on rolling 12 month earnings, stands at 6.3.


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