This bank stock has zoomed over 50% in 3 days on robust Q2 results

Karnataka Bank surged 19% to Rs 143 in the intra-day trade on Friday. It was trading at its highest level since February 2018

Shares of Karnataka Bank hit a multi-year high of Rs 143 as they surged 19 per cent on the BSE in Friday's intra-day trade, in an otherwise range-bound market, amid heavy volumes. In the past three trading days, the stock of the private sector bank has zoomed 52 per cent after it posted a record quarterly net profit of Rs 411 crore for the quarter ended September 2022 (Q2FY22). The net profit grew by 228 per cent compared to the net profit of Rs 125 crore in Q2FY22.

The bank said the significant jump in net profit was mainly