Karnataka Bank share price: The lender posted a 27 percent drop in Q1 FY26 net profit and a 16.4 percent fall in NII, with asset quality showing signs of strain
Stocks to Watch, 13 August: Stocks like Apollo Hospitals Enterprise, FSN E-Commerce Ventures Nykaa, Honasa Consumer, Suzlon Energy, Jindal Steel and Power, National Securities Depository (NSDL), NMDC, Landmark Cars, and Nazara Technologies will be in focus on August 13.
Managing director and CEO Srikrishnan Hari Hara Sarma resigned on June 29 and the resignation takes effect from July 15
Karnataka Bank’s CEO and Executive Director step down citing personal reasons, but governance-related concerns and board-level differences are also in focus.
Emkay Global said that a radical business approach in a traditional organization could have added to the discord between the exiting leaders and the board.
At close, the Sensex was down 452.44 points or 0.54 percent at 83,606.46, and the Nifty was down 124.00 points or 0.48 percent at 25,513.80. About 2,151 shares advanced, 1,538 shares declined, and 133 shares unchanged.
There were differences between the CEO, ED with the bank's board on a certain expenditure incurred in connection with engaging a consultant.
Emkay Global Financial is bullish on Karnataka Bank has recommended buy rating on the stock with a target price of Rs 260 in its research report dated May 15, 2025.
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Stocks to Watch, 9 Apr: Stocks like Shyam Metalics and Energy, Swan Defence and Heavy Industries, Vodafone Idea, NTPC, Karnataka Bank, PNB Housing Finance, Hindustan Aeronautics, Stallion India Fluorochemicals, Route Mobile, GAIL India, NTPC Green Energy, and Sonata Software will be in focus on April 9.
Stocks To Watch, Feb 18: Stocks like Uno Minda, Deepak Fertilisers and Petrochemicals Corporation, SBI Cards and Payment Services, GMR Airports, Allcargo Terminals, Suraksha Diagnostic, Anant Raj, Karnataka Bank ,Transformers and Rectifiers India, Vikas Lifecare, Ajax Engineering, Nazara Technologies, and TVS Supply Chain Solutions will be in focus on February 18.
Emkay Global Financial is bullish on Karnataka Bank has recommended buy rating on the stock with a target price of Rs 275 in its research report dated February 01, 2024.
Stocks To Watch, Feb 1: Stocks like Bandhan Bank, LIC Housing Finance, IRB Infrastructure Developers, Nuvama Wealth Management, Mahindra Lifespace Developers, Aster DM Healthcare, Sheela Foam, Triveni Turbine, Relaxo Footwears, Karnataka Bank, Godrej Agrovet, Hero MotoCorp, Aurobindo Pharma, and UPL will be in focus on February 1, Budget day.
Anand Rathi is bullish on Karnataka Bank has recommended buy rating on the stock with a target price of Rs 298 in its research report dated October 23, 2024.
Stocks like Sona BLW Precision Forgings, Birlasoft, Birla Corporation, Fedbank Financial Services, Karnataka Bank, MAS Financial Services, Navin Fluorine International, Schaeffler India, and Piramal Pharma will also be in focus on October 24.
The lack of a specific revenue model has prevented the banks and UPI apps from actively acquiring customers for the product
On the digital front, Srikrishnan H, the bank's MD & CEO, said the company is exploring how it can integrate its technology platforms with the ecosystems already in place, like CBDC and ONDC.
In the year-ago period, the bank posted a net profit of Rs 370.70 crore
Karnataka Bank's net profit fell by 22.5 percent YoY to Rs 272 crore in Q4FY24, while net interest income declined by 3 percent to Rs 834 crore
More than 300 companies will release their quarterly earnings on May 27 including Life Insurance Corporation of India, Astrazeneca Pharma, Borosil Renewables, Flair Writing Industries, Jubilant Industries, Natco Pharma, and NALCO.
Karnataka Bank had opened savings deposit accounts in the name of certain ineligible entities and failed to review / renew certain loan accounts within the prescribed period and yet did not classify these accounts as NPAs
The indicative floor price for the QIP is Rs 231.45 per share, a marginal discount to the previous close of shares of Karnataka Bank, CNBC-TV18 reported.
Srikrishnan Sarma said that the bank recovered over Rs 200 crore in the third quarter
For the reporting quarter, the company reported a decline in asset quality with the gross NPA up17 basis points QoQ to 3.64 percent and net NPA up 19 basis points QoQ to 1.55 percent in Q3FY24.
The share touched a 52-week high of Rs 282 on January 15, 2024 and a 52-week low of Rs 124.10 on March 29, 2023