{"id":131985,"date":"2024-08-26T14:01:39","date_gmt":"2024-08-26T08:31:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=131985"},"modified":"2024-08-26T14:01:44","modified_gmt":"2024-08-26T08:31:44","slug":"bank-stock-jumps-4-after-sbi-mutual-fund-to-acquire-9-99-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/bank-stock-jumps-4-after-sbi-mutual-fund-to-acquire-9-99-stake-in-the-company\/","title":{"rendered":"Bank stock jumps 4% after SBI Mutual Fund to acquire 9.99% stake in the company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-831105642\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of a private sector bank engaged in providing a wide range of banking and financial services surged 4.3 percent on BSE to Rs. 231.65 on Monday, after the RBI allowed SBI Mutual Fund to acquire up to 9.99 percent stake in the bank.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1414842367\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market cap of Rs. 17,919.08 crores, at 01:02 p.m., the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/KARURVYSYA\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">Karur Vysya Bank Limited<\/a><\/strong> were trading in the green at Rs. 223.95, up by nearly 0.8 percent, compared to its previous closing price of Rs. 222.2.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>What\u2019s the news:&nbsp;<\/strong><\/h2><p>The Reserve Bank of India (RBI) on 23rd August granted approval to SBI Mutual Fund (SBI MF) to acquire up to 9.99 percent of the paid-up share capital or voting rights of the Karur Vysya Bank Limited.&nbsp;<\/p><p>The approval has been granted with reference to the application made by SBI MF to RBI, and is subject to compliance with various banking and financial regulations, including the Banking Regulation Act of 1949, share acquisition guidelines, and the Foreign Exchange Management Act of 1999.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-93255260\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The bank clarified that, if SBI MF fails to acquire major shareholding within one year from the date of RBI\u2019s letter, this approval will be cancelled.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also read<\/strong><\/p>\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-trade-brains wp-block-embed-trade-brains\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"nbn1MA5fW5\"><a href=\"https:\/\/tradebrains.in\/features\/vijay-kedia-stock-hits-5-upper-circuit-after-announcing-acquisition-of-us-cybersecurity-firm\/\">Vijay Kedia stock hits 5% upper circuit after announcing acquisition of US cybersecurity firm\u00a0<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Vijay Kedia stock hits 5% upper circuit after announcing acquisition of US cybersecurity firm\u00a0&#8221; &#8212; Trade Brains\" src=\"https:\/\/tradebrains.in\/features\/vijay-kedia-stock-hits-5-upper-circuit-after-announcing-acquisition-of-us-cybersecurity-firm\/embed\/#?secret=gfQJ1STKTv#?secret=nbn1MA5fW5\" data-secret=\"nbn1MA5fW5\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure><\/blockquote><p>Additionally, SBI MF must ensure its shareholding in Karur Vysya Bank does not exceed 9.99 percent of the paid-up share capital or voting rights of the Bank.&nbsp;<\/p><p>Further, if the aggregate holding falls below 5 percent, SBI MF must obtain prior RBI approval to increase it to 5 percent or more of the paid-up share capital or voting rights of the Bank.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About SBI Mutual Fund:&nbsp;<\/strong><\/h2><p>Established in June 1987, SBI Mutual Fund is a leading player in the mutual fund industry, with the State Bank of India (SBI) as the sponsor. The fund was officially registered with SEBI on December 23, 1993, and later became a joint venture between SBI and AMUNDI Asset Management on April 13, 2011.&nbsp;<\/p><p>As of 31st March, SBI MF boasted an impressive Rs 913,780.06 crores as assets under management (AUM), accounting for 17.11 percent of the industry\u2019s total AUM.&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SBIN\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">SBI<\/a><\/strong> holds a 63 percent majority stake in SBI Funds Management Pvt Ltd,<\/p><div class=\"trade-content-10\" id=\"trade-1027620409\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>while AMUNDI Asset Management, through its wholly-owned subsidiary Amundi India Holding, owns the remaining 37 percent.&nbsp;<\/p><p>SBI MF offers a wide range of 72 primary schemes, including 37 equity funds, 22 debt schemes, 11 hybrid schemes, and 2 specialised funds, such as gold funds, serving diverse investor needs and preferences.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financials:&nbsp;<\/strong><\/h2><p>The bank has reported a significant growth in the net interest income (NII), with a 14.3 percent YoY rise from Rs. 897 crores in Q1 FY24 to Rs. 1,024.35 crores in Q1 FY25.&nbsp;<\/p><p>Similarly, the net profit jumped by nearly 28 percent YoY from Rs. 359 crores to Rs. 459 crores, during the same period.&nbsp;<\/p><p>During Q1 FY25, the bank\u2019s total business crossed Rs. 1,70,059 crores, registering a growth of 15.2 percent YoY as against Rs. 1,47,671 crores in Q1 FY24.&nbsp;<\/p><p>The inclusive growth from all the business segments helped the bank reach a net profit of Rs. 459 crores for the quarter.&nbsp;<\/p><p>Total deposits stood at Rs. 92,349 crores in Q1 FY25 as against Rs. 80,715 crores in Q1 FY24, indicating a growth of 14.4 percent YoY.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Stock Performance:&nbsp;<\/strong><\/h2><p>The shares of Karur Vysya Bank have delivered positive returns of nearly 87.7 percent in one year and around 26.2 percent in the last six months. So far in 2024, the stock has given about 31.7 percent of positive returns.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About the company:&nbsp;<\/strong><\/h2><p>Karur Vysya Bank Limited is a private sector bank engaged in the business of providing a wide range of banking and financial services including commercial banking and treasury operations.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Shivani Singh&nbsp;<\/strong><\/p><\/blockquote><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also read<\/strong><\/p>\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-trade-brains wp-block-embed-trade-brains\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"F7ndm4W4uO\"><a href=\"https:\/\/tradebrains.in\/features\/2-stocks-jump-up-to-6-after-fii-buys-up-to-7-lakh-shares-in-the-companies\/\">2 Stocks jump up to 6% after FII buys up to 7 Lakh shares in the companies\u00a0<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;2 Stocks jump up to 6% after FII buys up to 7 Lakh shares in the companies\u00a0&#8221; &#8212; Trade Brains\" src=\"https:\/\/tradebrains.in\/features\/2-stocks-jump-up-to-6-after-fii-buys-up-to-7-lakh-shares-in-the-companies\/embed\/#?secret=KaUHQ07rXe#?secret=F7ndm4W4uO\" data-secret=\"F7ndm4W4uO\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure><\/blockquote><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Disclaimer<\/strong><\/h2><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3727197880\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of a private sector bank engaged in providing a wide range of banking and financial services surged 4.3 percent on BSE to Rs. 231.65 on Monday, after the RBI allowed SBI Mutual Fund to acquire up to 9.99 percent stake in the bank.&nbsp; With a market cap of Rs. 17,919.08 crores, at 01:02 p.m., [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":119600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[3565,9254,7118,21901,2842,21902,948,936],"class_list":["post-131985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-bank-stock","tag-karur-vysya-bank-latest-news","tag-karur-vysya-bank-share-price","tag-karur-vysya-bank-stake-buy","tag-sbi-mutual-fund","tag-sbi-mutual-fund-to-buy-stake-in-karur-vysya-bank","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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