Karur Vysya Bank may touch Rs 540: Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "We are recommending Karur Vysya Bank since last two years and the stock had a dream run last year from where it has come down and probably not bounced back that much as other private banks."

"We have selected Karur Vysya Bank not only for the banking norms that have come yesterday, we have been recommending it to our clients because of its around 100 years history, 95-96 years of consistent dividend paying history the company is on an expansion mode opening around 25-30 branches every year," he added. "We feel Karur Vysya Bank is going to be valued and we have a price target of around Rs 540 for the stock," he said.