Kotak Mahindra Bank gains post takeover clarifications
Kotak Mahindra Bank has denied the rumor of its takeover of the Mangalore-based lender Karnataka Bank.
Kotak Mahindra Bank has moved higher by 2.2% at Rs 728, also its new high, after the private sector bank denying the rumor of its takeover of the Mangalore-based lender Karnataka Bank.
Karnataka Bank has also issued a statement to the exchanges that it denied the news of its merger with any other bank.
"Shri Ananthakrishna, Non-Executive Chairman, when contacted by the Newspaper, has denied the rumour of merger of the Bank and the same has been reported in the news paper. We once again deny merger rumour with any Bank as reported in the newspaper,” Karnataka Bank said in a BSE filing.
Karnataka Bank however, is trading lower by around 2% at Rs 153, falling 4.4% from intra-day high of Rs 160 on BSE.
Karnataka Bank has also issued a statement to the exchanges that it denied the news of its merger with any other bank.
"Shri Ananthakrishna, Non-Executive Chairman, when contacted by the Newspaper, has denied the rumour of merger of the Bank and the same has been reported in the news paper. We once again deny merger rumour with any Bank as reported in the newspaper,” Karnataka Bank said in a BSE filing.
Karnataka Bank however, is trading lower by around 2% at Rs 153, falling 4.4% from intra-day high of Rs 160 on BSE.