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Buy Karur Vysya Bank; target of Rs 749: Karvy
Karvy Stock Broking is bullish on Karur Vysya Bank and has recommended buy rating on the stock with a target of Rs 749, in its June 11, 2010 research report.
Karvy Stock Broking is bullish on Karur Vysya Bank and has recommended buy rating on the stock with a target of Rs 749, in its June 11, 2010 research report.
Karur Vysya Bank (KVB's) management does not expect any additional equity capital requirements in near future; we estimate that the bank's tier I capital would drift down to 9.99% in end-March FY12 from 12.88% on end-March 10. During end-March 12, the bank might go for equity raising plan. We build in lesser advances growth in FY11 and FY12 as compared to the bank's management expectations, therefore in case of higher credit growth and probability of higher risk weight may require the bank to raise equity capital in end-FY12. We re-iterate our positive view on the bank and rate the stock as a BUY with a price target of Rs 749 at 1.8x adjusted book value FY12," says Karvy Stock Broking research report.
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