KTKBANK.NSE

Karnataka Bank Ltd.

Karnataka Bank has been in a four-week losing streak, with technical indicators showing continued weakness despite approaching key support.

The racket operated across Nellore, Ongole, and Hyderabad, utilising banks like Karnataka Bank, Indian Overseas Bank, and Federal Bank.

Karnataka Bank has named Raghavendra Srinivas Bhat as the interim Managing Director and CEO. This follows the resignation of Srikrishnan Hari Hara Sarma, who stepped down citing personal reasons. Bhat, previously the Chief Operating Officer, will hold the position for three months. Sarma's departure had earlier impacted the bank's stock performance.

India’s benchmark indexes edged lower on Monday as profit-taking in financials near record highs outweighed optimism from easing geopolitical tensions and fresh foreign inflows. The Nifty 50 shed 0.19% to 25,590.45 points and the BSE Sensex fell 0.22% to 83,876.90 as of 10:14 a.m. IST. Seven of the 13 major sectors logged losses. High-weight financials, which hit a record high on Friday, lost 0.4%. The heaviest stock in the benchmark indexes HDFC Bank lost about 0.8%. Financials, metals lift Indian benchmarks to weekly gains as geopolitical, trade fears ease Meanwhile, small- and mid-cap indexes outperformed, rising 0.5% and 0.3%, respectively. Both the benchmarks are trading just about 2.5% below record high levels. They have gained about 3.5% in June, to take their overall rise to about 15% since the start of March. “Many promoters, private equity funds and early foreign investors are likely booking profits as markets approach the record high levels and valuations get stretched, spurring a pause in the rally,” said G Chokkalingam, founder and head of research at Equinomics Research.

India Business News: MUMBAI: Karnataka Bank on Saturday saw both its MD & CEO, Srikrishnan Hari Hara Sarma, and executive director, Sekhar Rao, resign, marking a major.