Indian equity markets have been on an upward trajectory, with the Nifty 50 and BSE Sensex reaching new record highs amid robust economic growth and positive domestic sentiment. In this environment, investors may look for stability and consistent returns, making dividend stocks with a minimum yield of 2%
In a move to fund its business growth, Karnataka Bank's board approved a plan to raise Rs 1,500 crore on Friday. The capital will be raised in one or more tranches through share sales, including preferential issues, rights issues, Qualified Institutional Placement (QIP), or any other permissible mode, subject to necessary regulatory approval.
Shares of Karnataka Bank reached a new record high on Wednesday, surging 7.48% to Rs 257.80 on the BSE. This surge follows a 5.17% increase on Monday after domestic brokerage firm ICICIdirect issued a high-conviction 'Buy' recommendation for the bank's stock, with a target price of Rs 285 over a six to twelve-month period. The stock market was closed on Tuesday due to Ganesh Chaturthi.