According to the new business statement for October published by the Insurance Regulatory and Development Authority of India (IRDAI), Bajaj Allianz is the fifth-largest private life insurer in terms of total market share, behind SBI Life, Max Life, HDFC Life and ICICI Prudential Life.

Nifty has formed a bearish candle with a gap but has managed to close above 18,000 level. Broad based indices Nifty 500 indicates slight gloomy over bulls as 127 stocks advanced while 373 declined

“In the last six days, we have seen FIIs buying to the tune of Rs 14,000 crore, In the last two months, the selling intensity has come down. From here on, for the next six to eight months, it has to be a bottom-up approach rather than a top-down approach and look for companies which can probably weather this global storm.”

We believe that undergoing positive momentum will continue. This could take the stock towards its lifetime high of Rs 136.70. The stock is positively poised above its key moving averages on major timeframe charts.

The Nifty Bank index was trading 0.49 per cent up at 41192.15.

Varanium Cloud Ltd., Macpower CNC Machine, Satia Industries, Karur Vysya Bank and Rama Steel Tubes, hit their fresh 52-week highs at 10:19AM.

Even though we are the best performing market, FIIs risk appetite is expected to come down when the US Fed hikes interest rate. Hence, they are likely to reduce their risk exposure in emerging markets. The trend will reverse as soon as the Fed signals the interest rate has peaked or inflation has peaked in US.

Karur Vysya Bank Ltd., incorporated in the year 1916, is a banking company (having a market cap of Rs 7968.94 Crore).

In the Nifty pack, 36 stocks closed in the green, while 13 stocks ended in the red.

In the Nifty50 index, 36 stocks closed in the green, while 13 stocks ended in the red.

In the Nifty 50 index, 36 stocks ended in the green, while 13 stocks closed in the red in today's trade.

With a pick-up in business growth and a moderating slippage run-rate, medium-term credit costs are expected to be soft, noted the brokerage. Higher business growth combined with benign credit costs would lead to strong profitability in the medium term. Citing these the brokerage estimates a 1.1% RoA in FY23.

Anand Rathi is bullish on Karur Vysya Bank has recommended buy rating on the stock with a target price of Rs 115 in its research report dated October 21, 2022.

“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.”

The first term of Mohan was completed on October 11, 2022.

Karur Vysya Bank Ltd., incorporated in the year 1916, is a banking company (having a market cap of Rs 6468.76 Crore).

Emkay Global Financial is bullish on Karur Vysya Bank has recommended buy rating on the stock with a target price of Rs 95 in its research report dated October 03, 2022.

"Right now, if we see the weekly charts of Nifty, the index has not broken its high of 18,114 levels to confirm that it has started the higher top higher bottom series to form a view of buy on dips. Though the broader markets and the market breadth have been strong in this up move from 15,191-18,096. So, from Bank nifty & midcaps perspective, both the indices have taken out their previous swing tops & there buy on dips can be done."

The US markets on Friday ended in the red, with all the 3 major US indices slipping to levels not seen since mid-July. S&P closed below 3,900, a support level tracked closely. Largely, the warning of an impending global recession by FedEx cautioned investors.

Analysts said the bullish momentum means the Bank Nifty index could outperform Nifty in the near-term. The Nifty Bank index has rallied 5.7% and 15.19% in the last one month and three months, respectively. The Nifty 50 index has gained 1.76% and 8.22% during this period.

For the quarter ended June 30, 2022, the company has reported a standalone total income of Rs 1672.60 crore, up 3.58 per cent from last quarter total income of Rs 1614.75 crore and up 4.80 per cent from last year same quarter total income of Rs 1595.93 crore.

Karur Vysya Bank, Kotak Mahindra Bank, Karnataka Bank, and City Union Bank have revised their interest rates on fixed deposits under Rs 2 crore.

Stocks that were in focus include names like Triveni Turbine which rose over 8 per cent, Karur Vysya Bank which gained over 7 per cent, and Federal Bank which closed with gains of more than 3 per cent. All stocks hit a fresh 52-week high.

Stocks that were in focus include BHEL which rose nearly 8 per cent in a volatile market, Bank of Baroda which hit a fresh 52-week high, and Karur Vysya Bank which rose nearly 5 per cent.

The Nifty Auto index was trading 0.42 per cent up at 12967.55.

“We bought Bharat Forge on the reopening trades. We have also taken some exposure in Devyani International and Westlife along with Indian Hotels. We have added some amount of Lemon Tree because that is on a good turnaround path. On the engineering side, I have taken a bet in railway wagon companies like Texmaco and Titagarh Wagons.”

“The consolidation with high volatility is likely to continue for the next 1-2 sessions. Immediate support is placed at 17,200 and the strong resistance to be watched at 17,500 levels. A decisive move above the hurdle could pull Nifty towards the next upside trajectory of 17,800 levels.”

Emkay Global Financial is bullish on Karur Vysya Bank has recommended buy rating on the stock with a target price of Rs 78 in its research report dated July 26, 2022.

Karur Vysya Bank Ltd., incorporated in the year 1916, is a banking company (having a market cap of Rs 4428.06 Crore).

Net interest margin of the bank rose to 3.82 per cent in the latest quarter under review from 3.55 per cent in the same period a year ago.Total income rose to Rs 1,672.60 crore in Q1FY23 as against Rs 1,579.26 crore in Q1FY22.At the end of June, Gross Non Performing Assets (NPAs) fell to 5.21 per cent of the gross advances from 7.97 per cent at the end of June 2021.

"We wish to inform...Reserve Bank of India vide their letter dated July 11, 2022, accorded their approval for the appointment of Meena Hemchandra as part-time chairman of the bank," Karur Vysya Bank said in a regulatory filing.

Deloitte-backed RP Nirav Pujara has admitted ₹1,356 crore by way of claims from financial creditors. Sagar Cements would have to shell out more if it were to acquire Andhra Cements outside the ambit of the Insolvency and Bankruptcy Code, one of the persons cited above said.

"Overall, Federal Bank posted healthy growth in advances, aided by strong system-level growth. Deposits were largely flat on a sequential basis as there was stiff competition among the banks to garner the same. CASA trends remained stable with a marginal decline to 36.8 per cent," said Motilal Oswal Securities while suggesting a price target of Rs 130 on the stock.

Karur Vysya Bank Ltd., incorporated in the year 1916, is a banking company (having a market cap of Rs 3716.44 Crore).

NMDC, the country's largest iron ore miner, has made a sharp reduction of Rs 1,100 per tonne in the price of lump ore and Rs 1,000 in case of fines. The prices are effective from June 5, 2022.

The bank has also raised the MCLR rate for 6 months tenure to 7.35 per cent from 7.30 per cent. The new rates are effective from June 7, Canara Bank said in a regulatory filing.

Karur Vysya Bank Ltd., incorporated in the year 1916, is a banking company (having a market cap of Rs 3604.05 Crore).

Emkay Global Financial is bullish on Karur Vysya Bank has recommended buy rating on the stock with a target price of Rs 72 in its research report dated May 23, 2022.

Karur Vysya Bank, incorporated in the year 1916, is a banking company (having a market cap of Rs 3712.05 crore).

The bank's interest income grew 4.4 per cent to Rs 1,409.27 crore during the quarter.For the full 2021-22, its net profit jumped 87.3 per cent to Rs 673.27 crore against Rs 359.39 crore in 2020-21, the bank said.The lender's asset quality showed improvement, with the gross non-performing assets (NPAs) falling to 5.96 per cent of the gross advances as of March 31, 2022, from 7.85 per cent a year ago.

For customers having CIBIL score of less than 700, the maximum hike is 25 basis points. The revised rates are applicable from Friday.

The last fundraising was in March 2021 when it had mopped up USD 33 million at a valuation of USD 508 million from GGV Capital, Vostok Emerging Finance, Highsage Investments, and Bertelsmann.

"Customers can now directly pay their customs duty by selecting KVB in ICEGATE. This facility opens doors for the bank for further acquisition of current account customers," the Bank's Managing Director and CEO, B Ramesh Babu said in a bank statement.