Shares of Reliance Capital were trading 1.01% higher at Rs 384.85.
Meanwhile, the S&P BSE Sensex was up 52.04 points or 0.27% at 19,491.52.
On BSE, 25,000 shares of Karnataka Bank changed hands in the counter as against average daily volume of 10.67 lakh shares over the past two weeks.
The stock hit a high of Rs 115 and a low of Rs 113.50 so far during the day.
Shares of Karnataka Bank had surged 6.24% to settle at Rs 114.85 on Tuesday, 9 July 2013, after the bank during trading hours on Tuesday, 9 July 2013, said it has entered into a memorandum of understanding (MoU) with Reliance Capital for financing the micro, small and medium enterprises (MSMEs) through co-financing arrangement. Under the MoU, Karnataka Bank will provide fund based/non-fund based finance to the eligible micro, small and medium enterprises (MSMEs) referred by Reliance Capital, as per the norms of the bank.
Reliance Capital, a part of the Reliance Group, is one of India's leading private sector financial services companies.
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Karnataka Bank's net profit declined 19% to Rs 67.39 crore on 14.1% growth in total income to Rs 1090.32 crore in Q4 March 2013 over Q4 March 2012.
Karnataka Bank is a private sector banking institution based in the town of Mangalore in Karnataka and has major presence in South India. The bank is engaged in commercial banking and related activities.
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