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A five-day surge has bought Karnataka Bank shares to where they were five years ago

A five-day surge has bought Karnataka Bank shares to where they were five years ago

A five-day surge has bought Karnataka Bank shares to where they were five years ago
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By CNBCTV18.com Nov 4, 2022 4:07:54 PM IST (Published)

Shares of Karnataka Bank are still down 2 percent over a five-year period.

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If you made an investment in shares of Karnataka Bank five years ago, the recent surge over the last month, particularly the last five days would not excite you much.
Despite shares jumping over 42 percent over the last five days, and over 60 percent over the last month, the stock is still down 2 percent over a five-year period.
Shares of Karnataka Bank have doubled over the last six months.
The recent surge in shares can be attributed to its September quarter earnings, where net profit more than tripled compared to a year ago.
The bank posted a net profit of Rs 411.47 crore for the September quarter, up 228 percent from the year-ago quarter and 260.5 percent from the June quarter.
Karnataka Bank’s net interest margin (NIM) rose to a five-year high of 3.56 percent. NIMs increased from 3.15 percent during the same period last year.
Asset quality of the bank improved as Gross Non-Performing Assets moderated to 3.36 percent from 4.03 percent.
Shares of Karnataka Bank had their best single-day gain in 17 years post its quarterly results. The stock ended 13.6 percent higher on Friday at Rs 136.9, close to its recent 52-week high of Rs 143.
 
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