Karnataka Bank shares drop 7% after top management resignations

Karnataka Bank's shares plunged over 7% following the resignations of MD & CEO Srikrishnan Hari Hara Sarma and Executive Director Sekhar Rao. The Board has formed a Search Committee for replacements and appointed a COO to ensure continuity. While technical indicators suggest short-term caution, the bank's valuation appears attractive for long-term investors.