Karvy on City Union Bank - Target of Rs 31
Karvy Stock Broking has recommended a buy rating on City Union Bank with a target price of Rs 31 in its research report. "In 3QFY09, we expect that the bank's net advances would grow by 29% (Y/Y) to Rs 51.6 billion and deposits would grow by 20% (Y/Y) to Rs 76 billion; we expect that the bank's NII would grow by 13% (Y/Y) to Rs 558 million; the bank's margin is expected to be under pressure due to higher costs of deposits. We estimate 21% (Y/Y) growth in bottomline to Rs 308 million. At current price, the stock quotes at 0.65x adjusted book value FY2010; we rate the stock as a BUY with a price target of Rs 31 at 1.45x adjusted book value FY2010," says Karvy's research report.
Karvy on Canara Bank - Target of Rs 278
Karvy Stock Broking has recommended a buy rating on Canara Bank with a target price of Rs 278 in its research report. "In 3QFY09, we expect the bank total business to grow by 23.7% (Y/Y) on the back of 28.3% growth in net advances and 20.5% growth in total deposits mobilization. We rate the stock as a BUY with a price target of Rs 278 at 1.25x adjusted book value FY2010," says Karvy's research report.
Karvy on Lupin - Target of Rs 875
Karvy Stock Broking has maintained its buy rating on Lupin with a target price of Rs 875 in its January 12, 2009 research report. "Profits for the quarter are expected to be higher by 19 % to Rs 1267 million. We maintain BUY on the stock with a price target of Rs 875 based on 14x FY 2010E," says Karvy's research report.
Home Loan Interest Rate Reset
4 years ago
No comments:
Post a Comment