Post its quarterly results announcement this banking stock gets locked in 20% upper circuit

 Post its quarterly results announcement this banking stock gets locked in 20% upper circuit

by 5paisa Research Team Last Updated: Dec 11, 2022 - 09:46 pm 11.4k Views
Listen icon

Karnataka Bank touches roof on reporting over a 3-fold jump in Q2 net profit.

Karnataka Bank is currently trading at its upper limit of Rs 112.55, up by 18.75 points or 19.99% from its previous closing of Rs 93.80 on the BSE.

The scrip opened at Rs 107.10 and touched a high and low of Rs 112.55 and Rs 105, respectively. At the time of writing, 1077889 shares were traded on the counter. The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high of Rs 112.55 today and has a 52-week low of Rs 55.25.

The bank has reported over 3-fold jump in its net profit at Rs 411.63 crore for Q2FY23 as compared to Rs 125.61 crore for the corresponding quarter previous year. The total income of the bank increased by 11.04% to Rs 2031.09 crore for the quarter under review as compared to Rs 1829.16 crore for the same quarter in the previous year.

In the June quarter, the capital adequacy ratio came at 15.41%, up by 83 bps YoY and ROE up by 5 bps YoY to 6.39%. The bank's current digital adoption is at 93.04% (Internet Banking, Mobile Banking, IMPS, UPI transactions). The customer mix of the bank mostly comprises retails which is at 46.32% followed by Mid corporate 32.81% and large corporate at 20.87%

Karnataka Bank operates as a private-sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance-linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

The bank has 879 branches, and 879 ATMs across India. It has a strong presence in South India with 79% of its branches located in the south, while 558 branches are located in the state of Karnataka.

The Institutions and Non-Institutions hold a 20.80% and 79.20%, stake in the Bank, respectively.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
What you must know about Ramdevbaba Solvent IPO?

Ramdevbaba Solvent has set the price band of ₹80-85 per share, with a face value of ₹10. Retail investors' lot sizes are set at 1,600 shares each. Retail investors can make a minimum investment of ₹1,36,000 for a single lot or multiples thereof.

TCS Impresses with Record Wins: Analysts Bullish on Double-Digit Growth

Despite all of the positives from the March quarter, TCS' management looked to be holding back on calling for a growth recovery, according to UBS. Given the unclear macroeconomic, the brokerage appears to be concerned about the danger of transaction deferments and slippages.

Sensex, Nifty down 1% on Iran-Israel tensions; consolidation to continue

Title: Sensex, Nifty slip 1% over Iran-Israel conflict worries; consolidation to continue Sensex, Nifty slip 1% over Iran-Israel conflict worries; consolidation to continue