Karnataka Bank shares up by 7.47 percent


Karnataka Bank shares up by 7.47 percent
Bangalore: Karnataka Bank was among the top gainers of the day after its price went up by 7 percent. After starting the day at 163, the stock touched its high of 176, before closing the day at 162.72, with a gain of 7.47 percent. Through the day, 34,44,469 Sesa Goa shares were traded with the current P/E ratio of the stock at 14.02. The 52 week stock price chart is on the left. The Karnataka Bank is a private sector bank that operates in four segments: treasury, corporate/wholesale banking, retail banking and other banking operations. During the fiscal year ended March 31, 2009, the Bank opened 16 branches. Further, the Bank added 30 automated teller machines (ATM) outlets at various locations during fiscal 2009. The bank has entered in to a joint venture agreement and holds equity investments to the extent of 15 percent in M/s Universal Sompo General Insurance Company. Currently, only two analysts are following the stocks. While one is recommending to buy the stocks, other one is recommending to hold.