Karnataka Bank gains on signing MoU with SCHWING Stetter
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The Karnataka Bank is currently trading at Rs. 72.50, up by 0.65 points or 0.90% from its previous closing of Rs. 71.85 on the BSE.
The scrip opened at Rs. 72.50 and has touched a high and low of Rs. 72.70 and Rs. 72.10 respectively. So far 250 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 81.80 on 11-Nov-2021 and a 52 week low of Rs. 51.55 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 73.10 and Rs. 68.15 respectively. The current market cap of the company is Rs. 2236.44 crore.
The Institutions and Non-Institutions held 20.80% and 79.20% stake respectively in the company.
Karnataka Bank has signed a Memorandum of Understanding (MoU) with SCHWING Stetter India, one of India's major construction equipment manufacturers. The collaboration with SCHWING Stetter is expected to broaden the Bank's MSME financing prospects.
This MoU will allow both SCHWING Stetter and Karnataka Bank to provide consumers with customised financial solutions. With this development, the bank will be designated as a financial partner and will be able to meet the needs of its customers by providing loans at competitive interest rates for the purchase of a wide range of construction equipment.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
