The asset quality also improved during the period. The Gross NPA has declined by eight basis points (bps) to 3.28 % from 3.36 % as compared to the sequential previous quarter. Similarly, the Net NPA also declined by six bps to 1.66 % from 1.72 % as compared to the sequential previous quarter, the bank said in a press release

In the last Budget, which was pro-growth, Sitharaman had increased capex by 35%. Nifty had welcomed the Budget with great vigour and closed the Budget day session on a cheerful note, up 1.4%.

Also, a meeting of the banks board of directors will be held on Tuesday, January 24, 2023, to consider, approve and take on record its financial results for the quarter and nine months ended December 31, 2022, the bank said in a BSE filing

Sekhar Rao will be an executive director of the bank for three years effective from the date of taking charge. This is subject to the approval of the shareholders.

In the Nifty 50 index, 14 stocks were trading in the green, while 36 stocks were trading in the red.

In the Nifty pack, 13 stocks were trading in the green, while 37 stocks were trading in the red.

In the Nifty50 index, 11 stocks were trading in the green, while 38 stocks were in the red.

The Nifty Auto index was trading 0.49 per cent down at 12981.95.

The Nifty Bank index was trading 0.25 per cent down at 42997.05.

Public sector companies hogged the limelight during the month, particularly the railway companies and state-run lenders. Other gainers majorly belonged to infrastructure and related sectors.

The Nifty Bank index was trading 0.46 per cent up at 42651.75.

The Nifty Realty index was trading 0.02 per cent down at 437.6.

The Nifty Pharma index was trading 0.32 per cent up at 12877.0.

“In the midcap-smallcap side of the basket, sector wise, we like banks as a sector, we like capital goods or industrials and then of course auto and consumer discretionary. These are the four broad sectors that we like. When we look at banks, we are definitely looking at the tier two banks, the likes of Federal Bank and DCB, banks which make an interesting case and even a bank like Ratnakar Bank Ltd.”

On November 2, the stock clocked around 20% gains after strong earnings for the quarter ended September. During the quarter, the Mangaluru-headquartered bank posted an all-time high quarterly net profit of Rs 411.5 crore, recording 228% growth compared to the profit during the same period last year.

Stocks that were in focus included names like Karnataka Bank which was up over 14%, SBI which rose more than 1% ahead of results, and Titan Company which closed flat also ahead of results.

In the Nifty pack, 27 stocks closed in the green, while 23 stocks ended in the red.

The Nifty Bank index closed 0.1 per cent down at 41258.45.

The Nifty Realty index closed 0.31 per cent up at 443.05.

The Nifty Auto index closed 0.07 per cent up at 13271.7.

In the Nifty50 index, 27 stocks closed in the green, while 23 stocks ended in the red.

In the Nifty 50 index, 27 stocks ended in the green, while 23 stocks closed in the red in today's trade.

The Nifty Pharma index closed 1.02 per cent down at 13422.15.

The Nifty IT index closed 0.36 per cent down at 28693.05.

Anand Rathi is bullish on Karnataka Bank has recommended buy rating on the stock with a target price of Rs 140 in its research report dated November 02, 2022.

In the Nifty pack, 25 stocks closed in the green, while 23 stocks ended in the red.

In the Nifty 50 index, 25 stocks ended in the green, while 23 stocks closed in the red in today's trade.

Karnataka Bank Ltd., incorporated in the year 1924, is a banking company (having a market cap of Rs 3720.66 Crore).

The Nifty Auto index was trading 0.33 per cent down at 13274.6.

Karnataka Bank, GRSE, Varun Beverages, Varanium Cloud Ltd. and AVSL Industries, hit their fresh 52-week highs at 10:45AM.

The Nifty Bank index was trading 0.56 per cent up at 41378.1.

For the half year ended September, the net profit stood at Rs 525.5 crore, which is also an all-time high, the bank said in a press release. The business turnover of the Bank has touched a new high of Rs 1,41,505.87 crore as of September 30.

In the Nifty 50 index, 21 stocks were trading in the green, while 29 stocks were trading in the red.

The Nifty Bank index was trading 0.09 per cent down at 41254.45.

The Nifty Realty index was trading 0.0 per cent at 442.7.

The Nifty Auto index was trading 0.55 per cent down at 13342.85.

In the Nifty50 index, 22 stocks were trading in the green, while 28 stocks were in the red.

The Nifty Pharma index was trading 1.26 per cent up at 13662.6.

Net profit grew 228 percent from a year earlier

Karnataka Bank, Silly Monks Entertai, Frog Cellsat Ltd., Varanium Cloud Ltd. and Kshitij Polyline, hit their fresh 52-week highs at 09:59AM.

The lender also mentioned that Mahabaleshwara MS will continue in the office till April 14, 2023.

The Indian stock market is in a strong bull run and every bull run has sharp profit booking during its journey which we are witnessing currently. The undertone remains bearish in the short term as long as we stay below the level of 18,000.

Karur Vysya Bank, Kotak Mahindra Bank, Karnataka Bank, and City Union Bank have revised their interest rates on fixed deposits under Rs 2 crore.

The benchmark indices like Nifty and Sensex could consolidate or may witness minor correction in the near term, as there is no support coming in from global equity markets.

IDBI Bank has launched a special fixed deposit scheme known as "Amrit Mahotsav FD" with a 500-day maturity period and a limited period offer. The new plan has an interest rate of up to 6.70 percent.

Karnataka Bank has promoted three of its Deputy General Managers Jayanagaraja Rao S, Ananthapadmanabha B and Ramesh Bhat as General Managers. Rao is a postgraduate in business administration with PG diplomas in management and operations management, while Ananthapadmanabha is a PG diploma holder in computer applications and Bhat is a post-graduate in agriculture.