Ace investor Halwasiya buys shares worth ₹70 cr in Karnataka Bank

Prominent investor and entrepreneur Aditya Kumar Halwasiya purchased 3.8 million Karnataka Bank shares valued at ₹70 crore during Friday’s trading session.

The bank’s stock opened unchanged at ₹176 but surged to an intraday high of ₹193 before settling 8% higher at ₹189.

Halwasiya secured the shares at an average price of ₹185.87 per unit through market transactions.

Trading activity peaked with over 36.7 million shares exchanging hands – roughly 28 times higher than the ten-day average trading volume.

While the stock has risen more than 5% over the previous five trading sessions and approximately 4% in the last month, it reflects a 5% decline over six months and an 11% year-to-date decrease in 2025. The equity currently trades at a P/E multiple of 5.68.

Karnataka Bank is implementing transformational changes to its business operations and balance sheet structure, reinforced by active management oversight, enhanced asset quality metrics, technological modernization, and stronger financial performance.

The private sector bank recently confirmed Raghavendra S Bhat’s appointment as Managing Director & CEO effective November 16, 2025. Bhat brings extensive banking experience to his one-year leadership term.

This transaction follows Halwasiya’s recent expansion of his position in Tourism Finance Corporation of India (TFCI) during September, where he increased his stake from 18.96% to 21.16% by acquiring 2.035 million shares of TFCI’s 92.6 million outstanding equity shares.

Published on November 22, 2025