S Sundar, CFO, City Union Bank, says that the bank is currently looking at raising Rs 400 crore via right issue and the bank may go in for QIP route once the right issue is completed in September.
Amit Harchekar, senior technical analyst-CMT, IIFL India Pvt Ltd explains to CNBC-TV18 that midcap stocks, falling close to 20-30% of the annual lows, offer good buying opportunities.
See 10% upside in City Union Bank, says Amit Harchekar, Sr. Technical Analyst -CMT, IIFL India.
Global private equity funds, which poured tens of billions of dollars into India investments when the economy and currency were flying high a few years ago, may be stuck with those holdings much longer than planned as the rupee's plunge plays havoc with their exit options.
In an interview with CNBC-TV18, N Kamakodi, MD & CEO, City Union Bank said that the company is well on track with its capital raising plans. The bank plans to raise around Rs 702,000 crore of incremental capital and infuse it over a period of four to five years, explained Kamakodi.
City Union Bank rose as much as 2.6% to intraday high of Rs 49 on Tuesday as the company is going to consider augmentation of capital through QIP.
Nirmal Bang has come out with its report on banking space. According to the research firm banks are likely to remain under pressure in the near term.
Dolat Capital is bullish on City Union Bank and has recommended buy rating on the stock with a target of Rs 70 in its May 21, 2012 research report.
The private sector lender managed to improve its net interest margins by 15 bps to about 3.39% in Q4. Dr N Kamakodi, MD & CEO, City Union Bank told CNBC-TV18, it is hopeful of maintaining the NIMs above 3.3% going ahead.
Interest earned for the quarter was Rs 476.10 crore and net profit was Rs 71.98 crore.
Private sector lender City Union Bank has reported a growth of 41% year-on-year in its net profit of Rs 72 crore for the fourth quarter of FY12.
Moneycontrol.com got Aditya Damani, director of KM Global Financial Services Pvt Ltd, to answer the stock queries you posted on our Facebook page. Below are his comments.
Dolat Capital is bullish on City Union Bank and has recommended buy rating on the stock with a target of Rs 60 in its April 24, 2012 research report.
Dolat Capital is bullish on City Union Bank (CUB) and has recommended buy rating on the stock with a target price of Rs 53 in its February 3, 2012 research report.
Interest earned for the quarter was Rs 438.57 crore and net profit was Rs 72.24 crore.
N Kamakodi, managing director and chief executive officer of City Union Bank indicated that the rates would decrease only in the second quarter next year or only after June 30. He expects the inflation to come closer to 7% by March so that the RBI can comfortably take a call.
Interest earned for the quarter was Rs 410.96 crore and net profit was Rs 77.52 crore.
N Kamakodi, MD & CEO, City Union Bank tells CNBC-TV18 that the bank never expected that having a lower CASA would be of benefit to them.
The Reserve Bank of India (RBI) raised benchmark interest rates by quarter of a percent point in September. Reading into the impact of this rate hike, N Kamakodi, managing director and CEO of City Union Bank says the bank’s margins are set to increase.
In an interview to CNBC-TV18, Sampath Kumar, analyst at IIFL; Sanjeev Bajaj, managing director of Bajaj Finserv and N Kamakodi, managing director and chief executive officer of City Union Bank discussed their views on the NBFCs as well as the impact of the bank license rules.
Confirming that the bank’s net NPA figures are better than the figures declared for March 31, Dr N Kamakodi, managing director and CEO of City Union Bank says that the there is no stress in their asset portfolio.
City Union Bank has announced its first quarter results. The company's Q1 net profit was up at Rs 58 crore versus Rs 44 crore.
L&T Finance Holdings Ltd, a wholly-owned arm of country's engineering bellwether Larsen & Toubro, said on Wednesday that earnings were based on aggressive provisioning made in 2010, reports CNBC-TV18.
Fitch Ratings has affirmed and simultaneously withdrawn the Individual and Support Ratings of select Indian banks.
ICICIdirect.com is bullish on City Union Bank and has recommended accumulate rating on the stock with a target of Rs 58 in its July 7, 2011 research report.