Karnataka Bank has moved higher by 6% to Rs 115 after the private sector bank said it has signed Memorandum of Understanding (MoU) with Reliance Capital for financing the micro, small and medium enterprises (MSMEs) through co-financing arrangement.
The bank will provide fund based/non fund based finance to the eligible MSMEs referred by Reliance Capital, as per the norms of the bank, the Karnataka Bank said in a press release.
The stock of Karnataka Bank has opened at Rs 109 and touched high of Rs 117 on BSE. A combined 7.31 million shares have changed hands on the counter till 1400 hours on BSE and NSE.
Reliance Capital was up 3% at Rs 380 on BSE. The stock opened at Rs 377 and hit a high of Rs 383 so far.
The bank will provide fund based/non fund based finance to the eligible MSMEs referred by Reliance Capital, as per the norms of the bank, the Karnataka Bank said in a press release.
The stock of Karnataka Bank has opened at Rs 109 and touched high of Rs 117 on BSE. A combined 7.31 million shares have changed hands on the counter till 1400 hours on BSE and NSE.
Reliance Capital was up 3% at Rs 380 on BSE. The stock opened at Rs 377 and hit a high of Rs 383 so far.