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Weekly Tactical Pick | Karur Vysya Bank

KVB is a long-term survivor and could throw up positive surprises in the post-COVID recovery phase and hence its valuation at 0.6X FY23e adjusted book offers downside support

September 04, 2021 / 10:32 AM IST
Weekly Tactical Pick | Karur Vysya Bank

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

In this week’s tactical pick, we are suggesting Karur Vysya Bank (KVB, CMP: Rs 44, Nifty level: 17,234), primarily because of its significant underperformance and undemanding valuation even as it appears that the bank is walking the right path. In the past six months, KVB had declined by 27 per cent against a 15 per cent rally in the Nifty and a 4 per cent rise in the Bank Nifty. Asset quality – the stress factored in While asset quality woes are...

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