ETMarkets.comICICI Securities has add call on Karur Vysya Bank with a target price of Rs 120. The current market price of Karur Vysya Bank is Rs 107.25.
Karur Vysya Bank, incorporated in the year 1916, is a banking company (having a market cap of Rs 8596.82 Crore).
Karur Vysya Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 2012.71 Crore, up 10.52 % from last quarter Total Income of Rs 1821.05 Crore and up 25.78 % from last year same quarter Total Income of Rs 1600.12 Crore. The bank has reported net profit after tax of Rs 289.29 Crore in latest quarter.
Investment Rationale
The brokerage maintains ADD with a revised target price ofRs120 (earlier: Rs100) as it increases its PBV multiple to 1.2x (earlier: 1.0x) onSep’23 BVPS considering improved visibility on it sustaining current profitability.
Karur Vysya Bank, incorporated in the year 1916, is a banking company (having a market cap of Rs 8596.82 Crore).
Karur Vysya Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Standalone Total Income of Rs 2012.71 Crore, up 10.52 % from last quarter Total Income of Rs 1821.05 Crore and up 25.78 % from last year same quarter Total Income of Rs 1600.12 Crore. The bank has reported net profit after tax of Rs 289.29 Crore in latest quarter.
Investment Rationale
The brokerage maintains ADD with a revised target price ofRs120 (earlier: Rs100) as it increases its PBV multiple to 1.2x (earlier: 1.0x) onSep’23 BVPS considering improved visibility on it sustaining current profitability.
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