India's Karnataka Bank up over 6% as profit triples in March quarter

Karnataka Bank

29/05/2023 06:18

** Shares of Karnataka Bank Ltd  KBNK.NS  rise as much as
6.78% to 153.50 rupees, highest since March 10
    ** Lender reports fourth-quarter net profit that nearly
tripled Y/Y to 3.54 bln rupees
    ** Net interest income up 31% to 8.60 bln rupees from 6.57
bln rupees a year earlier
    ** Stock most active in over a week, with trading volume at
5.14 mln shares as of 10:42 a.m. IST, 3.4x the 30-day avg -
Refinitiv data
    ** Relative strength index is 75, suggesting the stock may
be overbought


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))