As a trial base, the bank delivered its first shipment to clients in Chennai and Coimbatore recently. It is now in the process of ramping up the business to fully extend support to its existing set of customers across the nation, it said.
The Tamil Nadu-based bank had recently declared financial results for the first quarter ending June 30, 2018 with net profit registering at Rs 68.97 crore as against Rs 147.97 crore registered during year ago period.
While Q1 FY19 is likely to be another soft quarter for KVB, we are building in a revival in the second half of FY19. At 1.1 times book and 1.4 times adjusted book of FY19, the consolidation phase offers a great opportunity to accumulate this stock for the long term.
Dolat Capital has come out with its Q4FY13 review on Indian banking sector. The research firm continues to prefer ICICI Bank, Yes Bank and KVB amongst the private banks and amongst the PSBs SBI and PNB as they have been able to improve their asset quality over the past 2 quarters.
Dolat Capital is bullish on Karur Vysya Bank (KVB) and has recommended 'Buy' rating on the stock with a price target of Rs 590 in its May 31, 2013 research report.
Dolat Capital has come out with its report on banking sector. The PSBs can be the significant beneficiaries of improvement in the economic growth, as the asset quality deterioration slows down, and recoveries start rising. Among PSB's one can prefer SBI, PNB and Union Bank, says the research firm.
Dolat Capital is bullish on Karur Vysya Bank (KVB) and has recommended accumulate rating on the stock with a target price of Rs 434 in its January 30, 2012 research report.