On the BSE, 2.92 lakh shares were traded in the counter so far compared with average daily volumes of 2.77 lakh shares in the past two weeks. The stock hit a 52-week high of Rs 171.35 in intraday today. The stock hit a 52-week low of Rs 64.30 on 29 June 2023.

The stock had outperformed the market over the past one month, advancing 17.72% compared with 2.22% rise in the Sensex.

The scrip had outperformed the market in past three months, soaring 34.02% as against Sensex's 10.89% jump.

However, the counter had also outperformed the market in past one year, jumping 161.02% as against Sensex's 20.14% surge.

On the technical front, the stock's daily RSI (relative strength index) stood at 71.093. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 142.09, 140.80 and 132.12 respectively. These levels will act as crucial support zones in near term.

Karnataka Bank is an Indian private sector bank based in Mangalore. As of 31 March 2023, the bank operates 901 branches, 871 ATMs, 603 cash recyclers and 586 e-lobbies/mini e-lobbies across 22 states and two union territories.

The bank's net profit surged 171.4% to Rs 353.75 crore in Q4 FY23 as against Rs 130.35 crore recorded in Q4 FY22. Total income jumped 28.8% to Rs 2,364.54 crore in the quarter ended 31 March 2023.