Buy Karnataka Bank, target price Rs 156: Axis Securities

Axis Securities has buy call on Karnataka Bank with a target price of Rs 156. The current market price of Karnataka Bank is Rs 119.7.

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

Karnataka Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 2031.09 Crore, up 15.28 % from last quarter Total Income of Rs 1761.87 Crore and up 17.74 % from last year same quarter Total Income of Rs 1725.09 Crore. The bank reported net profit after tax of Rs 411.47 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 15.46 per cent, DIIs 5.34 per cent.