Buy Karnataka Bank, target price Rs 298: Anand Rathi

Anand Rathi has buy call on Karnataka Bank with a target price of Rs 298. The current market price of Karnataka Bank Ltd. is Rs 217.3.

Karnataka Bank Ltd., incorporated in the year 1924, is a banking company (having a market cap of Rs 8171.23 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-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 2619.97 Crore, up 7.43 % from last quarter Total Income of Rs 2438.68 Crore and up 10.80 % from last year same quarter Total Income of Rs 2364.54 Crore. The bank reported net profit after tax of Rs 274.43 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2024, while FIIs owned 18.86 per cent, DIIs 23.06 per cent.