Karur Vysya Bank shares rose almost 6% in the morning deal on the BSE on Friday, 16 October, to hit their 52-week high, a day after the company reported its September quarter (Q2FY27) results.
Karur Vysya Bank share price opened at ₹353.90 against its previous close of ₹345.50 and jumped 5.9% to its 52-week high of ₹365.85.
Karur Vysya Bank on 15 October reported a 40.91% year-on-year (YoY) rise in its net profit to ₹1,543 crore for Q2FY27. Deposits increased by 15.96% YoY and 4.52% QoQ, while advances jumped 20.35% YoY and 6.60% QoQ. The bank's net interest margin (NIM) increased by 28 bps YoY to 4.34%.
Brokerage firm Systematix Shares and Stocks (India) has maintained a buy call on the stock with a target price of ₹410, underscoring strong asset quality, stable NIM, healthy growth in advances, and improvement in profitability.
"Karur Vysya Bank (KVB) reported Q2FY27 PAT 3.3% above our estimates. NIM remained stable QoQ, supported by an 8bps QoQ improvement in yield on advances. Asset quality improved, with GNPA declining by 5bps QoQ to 0.7% and NNPA declining by 1bp QoQ to 0.2%, while the annualised slippage ratio stood at 0.45%. Operating profit grew by 14% YoY," Systematix noted.