Published on 17/07/2017 12:55:12 PM | Source: Dion Global Solutions Ltd.

Karnataka Bank slips over 4% on disappointing Quarterly Result

Posted in Stock On The Move | #Karnataka Bank Ltd #Banking Sector #Stock On The Move #Quarterly Result


Shares of Karnataka Bank tumbled over 4 per cent on the Bombay stock Exchange after the lender reported lower-than-expected top and bottom line growth. The bank has posted a 10 per cent growth in net profit at Rs 134 crore, compared with Rs 122 crore last year.

Reacting to Q1 result, shares of bank declined as much as 4.49 per cent to hit intra-day low of Rs 158.25 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 159.95 against previous close price of Rs 165.70. In a similar fashion, shares of the lender were trading 3.56 per cent lower at Rs 159.85 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,074.03, up 53.28 points, or 0.17 per cent, at 12:28 hours.