Stock To Buy: Banking Stock On Buy Call For 30% Return, 30 Days Return 55%: Axis Securities

Axis Securities has assigned buy call to the banking stock, Karnataka Bank with a target price of Rs 156 apiece. If you buy the stock today at the current market price of Rs 120, it can fetch you a potential return of up to 30%.

Karnataka Bank gained 7% intraday despite a decline in share market today. The 52-week high of Karnataka Bank is Rs 123 apiece and 52-week low is Rs 55 apiece, respectively. The banking company has a market capitalisation of Rs 3,751 crore as of writing the story.

The banking stock has declined 21% in last 5-years. It has given a return of 67% in last 3-years, 72% in last 1-year, and 67% in last 3 months. The shares have jumped 55% in last 30 days. In last 1-week, the stock has given a return of 27%.

The stock has also hit its new 52-week high today. The shares opened at Rs 116 apiece, touched intraday high at Rs 123 apiece (its 52-week high) and intraday low at Rs 114 apiece, respectively.

Karnataka Bank Limited, a leading 'A' Class Scheduled Commercial Bank in India, was incorporated on February 18th, 1924 at Mangaluru, a coastal town of Dakshina Kannada district in Karnataka State.

With over 9 decades of experience at the forefront of providing professional banking services and quality customer service, we now have a national presence with a network of 879 branches spread across 22 states and 2 Union Territories, according to its official website.

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.