Bajaj Allianz, Axis Bank pick stake in Karnataka Bank

US-based Wellington Management, an asset management company (AMC) with over $537-billion in client assets, Bajaj Allianz Life Insurance Company, Axis Bank and Fam Health Care Pvt Ltd together had picked up close to 6% stake in the Karnataka Bank. The US-based AMC cum investment adviser had picked up 18,21,031 shares, which translated into 1.36% of the floating stock of the Mangalore-based private sector lender. The US fund had reportedly lapped up the shares of Karnataka Bank from the open market through the last quarter ending March 31, 2010. Besides Wellington, Axis Bank had also picked up 15,91,443 shares, or 1.19% ...

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