Last year high was Rs.280. If it reach 300 it will be life time high. Karnataka Bank is a takeover target and if it happens in future we will 300 plus level.
I understand Religare Securities has already cornered enough shares of this take over during the last 12 months and in conjunction with others it is still cornering the shares. We all know the parentage of Religare and their financial mustle. Karnataka wanted to re-capitalise and passed the resolution 12 months ago for a right issue which it had to abort, due to poor market conditions and it has to re-capitalise to fall in to Bastle Norms, sooner than later. No wonder, then, it tradeed 2.37 Million shares on the Muhurat day of Deepavali. Buy now in LARGE LOTS to make a killing in a short time. I see a target in excess of Rs.300 before March 2010, when this tustle of take over will come to the fore.
share holding pattern of a company is available in nse official website apart from many other sources.there have been many attempts even earlier to take over this and many other banks.It doesnt work in the case of a bank,like it works for some other industry.bank is a highly regulated sector.most of the facts mentioned in the comment about religare are true,and are in public domain.link of that with the current price fluctuation is not verifiable.
Karnataka Bank take over of is talked since years may be more than six years. The Karnataka Bank still managed by the Share holders. This Bank has a big individual share holder’s base that hold shares in the range of 2,000 to 50,000 shares. They are not going to sell the shares and have full faith with the Managements.
In my opinion only a miracle should take place to change hands.
Technically its trading in over-sold region and getting good support near 125 levels and now one can consider buy around cmp of 126 with trailing stoploss at 120 & target of 145 to 175 by budget.
| NIFTY 
