The announcement was made during trading hours today, 9 July 2013.
Shares of Reliance Capital were trading 2.46% higher at Rs 379.60.
Meanwhile, the S&P BSE Sensex was up 92.48 points or 0.48% at 19,417.25.
On BSE, 14.89 lakh shares of Karnataka Bank changed hands in the counter as against average daily volume of 8.50 lakh shares over the past one quarter.
The stock hit a high of Rs 116.60 and a low of Rs 108.80 so far during the day. The stock had hit a 52-week high of Rs 198.80 on 11 December 2012. The stock had hit a 52-week low of Rs 78.10 on 11 September 2012.
The stock had underperformed the market over the past one month till 8 July 2013, sliding 26.44% compared with the Sensex's 0.54% fall. The scrip had also underperformed the market in past one quarter, declining 17.13% as against Sensex's 4.81% rise.
The private sector bank has equity capital of Rs 188.36 crore. Face value per share is Rs 10.
Under the memorandum of understanding (MoU) with Reliance Capital, 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.
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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