Moneycontrol
Last Updated : Jan 16, 2018 04:07 PM IST | Source: CNBC-TV18

Exit Karnataka Bank, says Ashwani Gujral

According to Ashwani Gujral of ashwanigujral.com, one may exit Karnataka Bank.

CNBC TV18 @moneycontrolcom

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Karnataka Bank was anyway not an outperformer. Now banks are not having it so good. It is a nothing stock anyway. If I had to do something, I would exit Karnataka Bank and maybe get into a bank which is better in terms of taking a correction. So maybe I would enter a Kotak Mahindra Bank or a Yes Bank because Karnataka Bank can fall all the way up to Rs 140 and smaller banks, they tend to outperform whenever the downside starts. I do not think Karnataka Bank is heading anywhere."

Karnataka Bank ended at Rs 153.30, down Rs 7.60, or 4.72 percent.

The share touched its 52-week high Rs 181.15 and 52-week low Rs 112.10 on 02 June, 2017 and 24 January, 2017, respectively.

Currently, it is trading 15.37 percent below its 52-week high and 36.75 percent above its 52-week low.
First Published on Jan 16, 2018 03:45 pm
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