Buy Karnataka Bank, target price Rs 334: Anand Rathi

Anand Rathi has buy call on Karnataka Bank with a target price of Rs 334. The current market price of Karnataka Bank Ltd. is Rs 229.45.

Karnataka Bank Ltd., incorporated in the year 1924, is a banking company (having a market cap of Rs 7890.25 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 31-12-2023, the company reported a Consolidated Total Income of Rs 2438.68 Crore, up 7.14 % from last quarter Total Income of Rs 2276.23 Crore and up 18.65 % from last year same quarter Total Income of Rs 2055.31 Crore. The bank reported net profit after tax of Rs 331.21 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Dec-2023, while FIIs owned 19.03 per cent, DIIs 17.69 per cent.