Kotak Bank seen interested in Karnataka Bank

Talk of Karnataka Bank being acquired refuses to die down. A couple of weeks ago, there was a speculation about Axis Bank looking to buy Karnataka Bank.

The latest buzz is that Kotak Mahindra Bank may be in talks to buy the private bank. Senior Kotak Bank officials denied that they were in talks to buy out Karnataka Bank.

But investors seem to be convinced about the possibility of Karnataka Bank being a takeover target. The stock, which has gained about 23% in a month, closed at Rs 161, up roughly 3% on Thursday.

(Contributed by Nishanth Vasudevan, Apurv Gupta, Shailesh Menon & Harish Rao)