Karnataka Bank rises on signing MoU with JCB India
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The Karnataka Bank is currently trading at Rs. 70.00, up by 0.85 points or 1.23% from its previous closing of Rs. 69.15 on the BSE.
The scrip opened at Rs. 70.40 and has touched a high and low of Rs. 70.75 and Rs. 69.20 respectively. So far 31928 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. 72.05 and Rs. 67.00 respectively. The current market cap of the company is Rs. 2170.58 crore.
The Institutions and Non-Institutions holding in the company stood at 20.80% and 79.20% respectively.
Karnataka Bank has signed Memorandum of Understanding (MoU) with JCB India, a manufacturer of earthmoving and construction equipment in India. The tie up arrangement with JCB India is expected to boost the lending avenues under the Bank's MSME portfolio.
Under this MoU, JCB will be nominating Karnataka Bank as its ‘preferred financier’ where in Individuals/Contractors/Company /Partnership firms/LLP etc., can avail loans from the Bank at competitive interest rates for purchasing a wide range of equipment from the product line of JCB India.
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.
