Hold Karnataka Bank With Stop Loss Of Rs 161

Hold Karnataka Bank With Stop Loss Of Rs 161Stock market analyst Rakesh Bansal of New Age Wealth has maintained 'hold' rating on Karnataka Bank stock.

According to analyst, the interested investors can buy the stock with stop loss of Rs 161.

The analyst said that the investors can exit on rally to around Rs 174-175

Today, the stock of the bank opened at Rs 169.150 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 188.85 a low of Rs 111 on BSE.

Current EPS & P/E ratio stood at 12.95 and 13.10 respectively.

Mangalore-based Karnataka Bank Ltd announced to pay a dividend of Rs 4 each share and also have settled to provide shares on the rights basis to the subsisting stock holders with subject to nod from company's nod.

Moreover, the bank registered an increase of 16.03% in its net profit, which stood at Rs 46.48 crore for the three month period ended June 30.

The banking institution also recorded a marginal growth in its total income in the first quarter at Rs 613.30 crore as compared to Rs 609.67 crore in the same period of 2009.

The bank's proportion of GNPAs increased to 3.84% in Apr-Jun quarter as compared to 3.74% in the same quarter of 2009.

Its percentage of net NPAs also increased during the first quarter to 1.20 percent, from 0.95 percent in the year-ago period, the filing added.