India's Karur Vysya Bank hits record high as SBI Mutual Fund buys stake

Karur Vysya Bank

13/12/2023 04:42

** Shares of Karur Vysya Bank  KARU.NS  rise as much as 3.3%
to a record high of 170.4 rupees
    ** SBI Mutual Fund bought 12 mln shares at 162 rupees per
share, amounting to 1.5% stake in co, as per NSE data
    ** End of Nov., RBI had given nod to SBI Mutual Fund to buy
upto 9.99% stake in KARU
    ** KARU set for third straight session of gains, if trend
holds
    ** Stock trading above its 200-day simple moving average
since mid-July, 2022
    ** Twelve analysts tracking KARU on average have "strong
buy" rating; median PT is 175 rupees- LSEG data
    ** Including sessions gains, stock up 47% YTD

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))