Shares of Karnataka Bank surged 9 per cent today after it disclosed that ICICI Bank has picked up a little over 1 per cent stake in the company.
The stock 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.
As per the latest shareholding disclosure on BSE, ICICI Bank has picked up 1.09 per cent stake in the company.
The shareholding pattern for the period ended March 31 was disclosed post market hours yesterday.
The bank has often been target of takeover speculations which it has always denied.
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