Karur Vysya Bank Ltd.

Strong Performer

Check Buy or Sell

37.50 0.00 (0.00%)

41.95% Fall from 52W High

1.4M Volume

NSENov 27, 2020 03:31 PM

Watchlist

Portfolio

Alert

Share

2,997.4

Market Cap

Low in industry

33

AVG Broker Target

-12.0% downside

9.4

TTM PE Ratio

Above industry Median

0.2

TTM PEG Ratio

Above industry Median

0.5

Price to Book Ratio

Below industry Median

0.8

Beta 1Year

Very Low volatility



Karur Vysya Bank Ltd.    
25 Jun 2020
buy
by HDFC Securities
Target: 33 | Target met
HDFC Securities
We maintain REDUCE with a TP of Rs 33 (0.54xFY22E ABV). Our stance is premised upon, the (1) leadership void and corresponding uncertainty, and (2) weak performance outlook. KVBs 4Q earnings were ahead of our estimates. However, a look at the fine print reveals that (1) a sharp rise in treasury gains boosted earnings and (2) high w/offs and the standstill classification optically curtailed GNPAs. The sharp fall in deposits was inexplicable.
Promoters pledge reduced to 14.72% of holdings in Sep 2020 qtr.
Karur Vysya Bank Ltd.    
03 Feb 2020
buy
by HDFC Securities
HDFC Securities
We have reduced our earnings estimates to factor in slower growth and lower margins. Portfolio de-risking and re-balancing on the corporate side over the past 2 years has been a positive. However, the risk of further stress materialising from the legacy book remains. We expect sub-1% RoAAs to persist into FY22E. The change in leadership and consequent intent to pursue the path of existing revamp/ push for more changes remains an uncertainty. We thus maintain NEUTRAL in spite of attractive valuations. KVBs 3Q performance was underwhelming with a slight QoQ de-growth in core earnings as margins declined and advances were flat. GNPAs were stable, but PCR saw a considerable improvement. Maintain NEUTRAL with a TP of Rs 58 (0.9x Dec-21E ABV).
default
Karur Vysya Bank Ltd. has an average target of 33.00 from 1 broker.
Karur Vysya Bank Ltd.    
06 Jan 2020
buy
by HDFC Securities
Target: 64 | Upside : 70.7%
HDFC Securities
While our estimates remain unchanged, as the impact of this event is difficult to disaggregate and model, we downgrade the stock, yet again, to NEUTRAL, (our BUY was premised solely on inexpensive valuations, ~1x FY21E). Our revised TP is Rs 64 (1xDec-21 ABV of Rs 64). KVBs incumbent MD & CEO P.R. Seshadri recently resigned from the bank. While this does not come as much of a surprise, we view this as a setback for the bank, as it would stall the long-needed revamp. The ex-citibanker joined KVB in Sep-17. Our initial thesis on KVB was heavily premised on a cleanup-cum-revamp, which we expected post Mr. Seshadris joining.
Karur Vysya Bank Ltd. has gained 61.29% in the last 6 Months
Karur Vysya Bank Ltd.    
03 Nov 2019
buy
by HDFC Securities
Target: 88
HDFC Securities
We build higher slippages and slightly slower growth as we expect current trends to persist for longer due to extraneous factors. Operating and asset quality metrics still do not reflect the claimed shift in practices. Legacy issues continue to drag. Still, , the stock's under-performance implies most of the bad news is priced in. Our BUY draws mostly from inexpensive valuations. Despite KVB's numerous stumbles, we believe a 1.4x target multiple is fair, as it can turn around quickly with even a mild macro tailwind. KVBs asset quality was optically stable in 2Q as GNPAs dipped ~3% QoQ, aided by higher WOs and an ARC sale even as slippages remained elevated. Stunted growth and NIM compression persisted. Maintain BUY (TP of Rs 88, 1.4x Sept-21E ABV of Rs 63), on inexpensive valuations.
Karur Vysya Bank Ltd. has lost -36.49% in the last 1 Year
Karur Vysya Bank Ltd.    
30 Jul 2019
buy
by Nirmal Bang
Nirmal Bang
Disappointment on all fronts; Recovery hopes move to FY21E Advances stood at Rs. 49,182 Cr vs. Rs. 47,886 Cr in Q1FY19, a tepid growth of 3% YoY (a 10 quarter low). Retail loans continued to maintain growth momentum at 32% YoY contributing 22% to the overall advances vs 17%...
Promoters pledge reduced to 14.72% of holdings in Sep 2020 qtr.
Karur Vysya Bank Ltd.    
26 Jul 2019
buy
by HDFC Securities
Target: 87
HDFC Securities
Even as elevated slippages play out (likely to continue) in accordance with earlier guidance, no further negative surprises on the asset quality should come as a relief to investors (although growth remains stunted). While underlying strategies at the bank have not shown a paradigm shift some change is visible, and return ratios will improve gradually. More importantly, most of the bad news has been priced in. Given the recent underperformance (and no fresh bad news), we UPGRADE TO BUY with a TP of Rs 87 (1.4x Jun-21E ABV of Rs 62). Elevated slippages (as guided) and stunted growth made for an in line qtr. With most of the bad news priced in (and no more of it expected), we UPGRADE TO BUY (TP of Rs 87, 1.4x Jun-21E ABV of Rs 62).
Karur Vysya Bank Ltd. is trading above all available SMAs
Karur Vysya Bank Ltd.    
26 Jul 2019
buy
by KRChoksey
Target: 73
KRChoksey
Muted balance sheet growth with Advances increasing 3% YoY and Deposits growing 7% YoY NII at INR 584 Cr. It was almost flat YoY/ (down by 5.7% QoQ). Non-Interest Income was up 5.9% YoY basis (down 0.96% QoQ). Total Income at INR 854 Cr. is up 1.8% YoY/ down by 4.25% QoQ; PPOP at INR 445 Cr. is down by 3.15% YoY/ 4.23% QoQ. The bank has provided for INR 330 Cr. as provisions during the quarter, down by 21.9% YoY/ 6.35% QoQ....
default
Karur Vysya Bank Ltd. has gained 61.29% in the last 6 Months
Karur Vysya Bank Ltd.    
26 Jul 2019
buy
by Chola Wealth Direct
Target: 68
Chola Wealth Direct
Background: Karur Vysya Bank (KVB) is one of the mid-sized banks in the private sector space, operates through a network of 778 branches and ~ 2,177 ATMs and cash recyclers. KVB's business - 82% is concentrated in South India with about 68% of its branch footprint in Tamil Nadu and Andhra Pradesh. As of 1QFY20 the total business stood at INR 1108bn. The bank is capitalized with a total CAR of 15.9% (Basel III). Gross NPAs were reported at 9.17% with...
Karur Vysya Bank Ltd. has gained 61.29% in the last 6 Months
Karur Vysya Bank Ltd.    
23 May 2019
buy
by Chola Wealth Direct
Target: 74
Chola Wealth Direct
Sector: Banking /Small-Cap | Earnings Update 4QFY19 Background: Karur Vysya Bank (KVB) is one of the mid-sized banks in the private sector space, operates through a network of 788 branches and ~ 2,337 ATMs and cash recyclers. KVB's business - 82% is concentrated in South India with about 68% of its branch footprint in Tamil Nadu and Andhra Pradesh. As of 4QFY19 the total business stood at INR 1104.8bn. The bank is capitalized with a total CAR of 16% (Basel III). Gross NPAs were reported at 8.79% with...
Promoters pledge reduced to 14.72% of holdings in Sep 2020 qtr.
Karur Vysya Bank Ltd.    
21 May 2019
buy
Results Update: Karur Vysya Bank Ltd.
by Nirmal Bang
Nirmal Bang
Advances stood at Rs. 50,616 Cr vs Rs. 45,973 Cr in Q4FY18, a growth of 10% YoY. Retail loans exhibited a robust growth of 48% YoY contributing 22% to the overall advances (Core Retail growth stood at 24% while the remaining growth was contributed by IBPC portfolio taken on books for 90 days). The bank chose to grow cautiously in Agri (+3% YoY), SME (+6% YoY) and Corporate (-2% YoY) with each contributing 16%, 34% and 28% respectively. We expect loan growth of 15% CAGR over FY19-21E. NIMs were higher 22 bps QoQ at 3.88% on the back of increase in yields....
Karur Vysya Bank Ltd. has gained 17.55% in the last 1 Month