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Karnataka Bank Plunges 3%; BSE BANKEX Index Down 0.1%
Tue, 3 Sep 9:31

Karnataka Bank Plunges 3%; BSE BANKEX Index Down 0.1%Image source: DNY59/www.istockphoto.com

Karnataka Bank share price has plunged 3% and is presently trading at Rs 226.0.

Meanwhile, the BSE BANKEX index is at 58,431.5 (down 0.1%).

Among the top losers in the BSE BANKEX index today are ICICI Bank (down 0.5%) and Indusind Bank (down 0.3%).

Federal Bank (up 1.0%) and AU SMALL FINANCE BANK (up 0.4%) are among the top gainers today.

Over the last one year, Karnataka Bank has moved up from Rs 224.3 to Rs 226.0, registering a gain of Rs 1.8 (up 0.8%).

On the other hand, the BSE BANKEX index has moved up from 49,696.4 to 58,431.5, registering a gain of 17.6% during the last 12 months.

The top gainers among the BSE BANKEX index stocks during this same period were SBI (up 44.7%), Federal Bank (up 37.3%) and Bank of Baroda (up 32.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 82,493.2 (down 0.1%).

The top losers among the BSE Sensex today are Bajaj Finance (down 1.2%) and Bajaj Finserv (down 1.0%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 25,267.2 (down 0.1%). Bajaj Finance and Bajaj Finserv are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,087.3 to 82,493.2, registering a gain of 17,405.9 points (up 26.7%).

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 2024, Karnataka Bank reported 10.8% increase in net profit to Rs 13,066 million compared to net profit of Rs 11,797 million during FY23. Revenue of the company grew 14.9% to Rs 82,985 million during FY24.

The current Price to earnings ratio of Karnataka Bank, based on rolling 12 month earnings, stands at 6.4.


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