Sharekhan recommended hold rating on City Union Bank with a target price of Rs 176 in its research report dated February 10, 2023.

​“For bulls, 17,350 could be the immediate trigger level and above the same, the index could move up to 17,425-17,4780. On the flip side, as long as the index trades below 17,350 the correction wave is likely to continue and it could slip till 17,250-17,200,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

Geojit recommended accumulate rating on City Union Bank with a target price of Rs 159 in its research report dated February 20, 2023.

Prabhudas Lilladher is bullish on City Union Bank has recommended buy rating on the stock with a target price of Rs 190 in its research report dated February 12, 2023.

“The trigger for bulls to break jail would be pivoting in the US, pivoting of the interest rates which I believe at least a couple of more 25 bps hikes are there and thereafter it is going to be a bit of a pause. So when the Fed starts cutting interest rates in the US, that is when I believe bulls are going to start coming out of wherever they are hiding for the moment.”

The private sector lender’s performance did not live up to its past trend. Compared to its peers too, it lagged.

“The public sector banks have declared what losses they have to the Adani group, but nobody is talking about loans against shares or any other kind of leverage.We should also break into the NBFCs and other companies. It is a wait and watch all over the world, and not just in India. Who knows where we are going to go next?”

City Union Bank, incorporated in the year 1904, is a banking company (having a market cap of Rs 10276.48 Crore).

Even as most banks have strengthened capital buffers post Covid-19, expected credit loss (ECL)-based norms could release existing provisioning for large banks such as ICICI Bank and HDFC Bank, they said, while some small private players like City Union Bank and DCB Bank may have to accelerate provision buffers and raise capital faster.

We expect this trend to have gathered more steam in 3QFY23 as banks confidence in these product segments increased due to encouraging macroeconomic data despite reasonably tight monetary and liquidity conditions. For this reason, our top picks in order of preference remain HDFC Bank, ICICI Bank and Axis Bank," it added.

Net Interest Income (NII) is expected to increase by 16.6 percent Y-o-Y (up 0.6 percent Q-o-Q) to Rs. 571.2 crore, according to Emkay.

We offer three smallcases designed for different market conditions. The ‘core portfolio smallcase, focused on defensive stocks with stable growth and a high margin of safety, outperformed the benchmark by 13% YTD.

"The divergence to the tune of Rs 259 crore consists of 13 borrower accounts (with an outstanding balance over Rs 1 crore ) for an amount of Rs 230 crore and 218 borrowers (with outstanding balance lower than Rs 1 crore) for an amount of Rs 29 crore," the filing added.

Investec maintained its buy rating on Union Bank with a target price of Rs 240. The company reported a divergence of Rs 260 crore or 64 bps of advances and no material impact on estimates, it said."Increasing instances of internal lapses - a sign of underlying weakness caused due to Covid. Pressure on further valuations, but the event is backwards-looking," Investec said.

The divergence to the tune of Rs 259 crore consists of 13 borrower accounts with an outstanding balance of more than Rs 1 crore for an amount of Rs 230 crore and 218 borrowers with an outstanding balance of less than Rs1 crore for an amount of Rs 29 crore.

After showing weakness in the last couple of sessions, Nifty witnessed a decent upside bounce on Monday and closed the day higher by 151 points. After opening with a slightly positive note, Nifty continued its upside momentum for the whole session.

Expert: Nooresh Merani, an independent technical analyst told ETNow - IndusInd Bank: Buy| Target Rs 1350| Stop Loss Rs 1160

S&P BSE Sensex and Nifty50 closed mixed on Monday. Nifty50 managed to hold on to 18700 levels.

“Were seeing consolidation on the expected lines, which is healthy after the recent surge. We expect the resumption of the trend soon, meanwhile focus on sectors that are attracting buying interest on every dip and select the stocks accordingly,” Ajit Mishra, VP - Research at Religare Broking, said.

The volatility index, India VIX, has slipped to 13.4 indicating choppiness is gradually subsiding and thus providing comfort to the bulls. Chart patterns suggest the 13-exponential moving average zone of 18,200-18,250 will be a strong support.

Emkay Global Financial is bullish on City Union Bank has recommended buy rating on the stock with a target price of Rs 228 in its research report dated November 06, 2022.

Sharekhan is bullish on City Union Bank has recommended buy rating on the stock with a target price of Rs 230 in its research report dated November 04, 2022.

Prabhudas Lilladher is bullish on City Union Bank has recommended buy rating on the stock with a target price of Rs 220 in its research report dated November 05, 2022.

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 14200.03 Crore).

Momentum indicator Moving Average Convergence Divergence (MACD) showed bullish trend in the counters of JSW Energy, Aditya Birla Fashion, FirstSource Solution, Orient Cement and Swan Energy among others

“When the tide is up, all boats rise and for the banking sector and for the finance sector, the tide is coming almost three years after the IL&FS fiasco happened. It has taken three-four years for the system to clean up, over leverage to go down and most banks to get their capital back. This is just the start of the whole rally. The tide is strong and there is demand in the sector. The rerating should continue.”

Volumes were quite high, and a higher top higher bottom pattern was formed. From highs, the price witnessed some selloff as it took the support of previous bottoms around 93 and moved above the previous high of 104.65; the stock indicated further upside from here.

Among sectoral indices, Nifty PSU Bank emerged as the outlier as Nifty Realty, Nifty Media and Nifty Metals plunged

The brokerage firm sees reasonable opportunities across the market spectrum with quality being the key filter

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 13693.41 Crore).

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 13693.41 Crore).

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 13693.41 Crore).

Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said: “After showing sharp weakness on Tuesday, Nifty shifted into a sustainable upside bounce amidst volatility on Wednesday and closed the day higher by 140 points. Intraday buying emerged from the day's low of 16960 levels, and the market continued its upside momentum till the end.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said: “After showing sharp weakness on Tuesday, Nifty shifted into a sustainable upside bounce amidst volatility on Wednesday and closed the day higher by 140 points. Intraday buying emerged from the day's low of 16960 levels, and the market continued its upside momentum till the end.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said: “After showing sharp weakness on Tuesday, Nifty shifted into a sustainable upside bounce amidst volatility on Wednesday and closed the day higher by 140 points. Intraday buying emerged from the day's low of 16960 levels, and the market continued its upside momentum till the end.

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 13711.90 Crore).

On the lender, the brokerage maintained that a recent decline in yields is expected to lead to a reversal in treasury losses and could act as a near term catalyst. Thus, we maintain our BUY rating on the stock and revise our target price to Rs 650, valuing core bank at 1.3x FY24 ABV and assigning Rs 192 to the subsidiaries.

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 13700.81 Crore).

“I would agree that there are opportunities in auto, auto ancillaries. Maruti, M&M are very well placed for the next one or two years. The CV cycle is going through slight sluggishness and that is something we need to watch. After that plays out, maybe Ashok Leyland could give opportunities. In auto ancillaries, I like Apollo Tyres and Bharat Forge.”

Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said as long as the Nifty sustains above the support of 17,300-17,200 levels, there is a possibility of an upside bounce from the lower levels. One may expect broader range movement for the Nifty

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 13231.17 Crore).