Karnataka Bank gains on report ICICI Bank acquiring it

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    Karnataka Bank gains on report ICICI Bank acquiring it
    Karnataka Bank: Quotes, News
    BSE 113.80BSE Quote1.75 (1.54%)
    NSE 113.85NSE Quote1.55 (1.36%)
    ICICI Bank: Quotes, News
    BSE 345.20BSE Quote1.85 (0.54%)
    NSE 345.20NSE Quote1.95 (0.56%)
    India's largest private sector lender ICICI Bank may acquire the Karnataka Bank, according to a report in the Indian express.
     

    Shares of the Karnataka Bank rose by 1.82% to Rs 123 on BSE, following the reports after touching an intra-day high of Rs 127.

    The shares of the ICICI Bank was trading higher by 0.45% to Rs 1057 on BSE. It touched an intra-day high of Rs 1062.
    According to media reports, ICICI has submitted a formal proposal to the Reserve Bank of India (RBI) to acquire Karnataka Bank.

    Karnataka Bank has zoomed drastically from last month. The stock which was quoting at Rs 86.55 on September 17 has surged to Rs 122.50 on the BSE today.

    However, both the banks refused to comment on the report. Karnataka Bank had reported a 67.62% growth in net profit in Q-1 of FY 2012-13 at Rs 83.44 crore against Rs 49.78 crore for the corresponding period last year.

    Earlier in May 2010, ICICI Bank had acquired Bank of Rajasthan.

    GoodReturns.in

    Read more about: icici bank karnataka bank
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more