Karnataka Bank up 9 pc on ICICI being shown as shareholder

Shares of Karnataka Bank surged 9 per cent today after its latest shareholding data showed ICICI Bank holding a stake of over 1 per cent in the company.
In its latest shareholding pattern filed with the BSE last evening after market closing, Karnataka Bank disclosed ICICI Bank having a stake of 1.09 per cent stake in the company as on March 31. The earlier quarter-end shareholding data, as on December 31, 2016, did not show any stake held by ICICI Bank.
Karnataka Bank has often been the target of takeover speculation, which it has always denied.
Karnataka Bank shares soared 9 per cent to end at Rs 159.30 on BSE. During the day, it zoomed 10.63 per cent to Rs 161.70 -- its 52-week high.

At NSE, shares of the company rose sharply by 9 per cent to close at Rs 159.35.
The company's market valuation too went up by Rs 371.91 crore to Rs 4,501.91 crore.
On the volume front, 25.21 lakh shares of the company were traded on BSE and over two crore shares changed hands on NSE during the day.