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Ashok Leyland is currently trading at Rs. 184.05, up by 0.35 points or 0.19% from its previous closing of Rs. 183.70 on the BSE. The scrip opened at Rs. 184.45 and has touched a high and low of Rs. 185.30 and Rs. 181.15 respectively. So far 233649 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 191.45 on 16-Aug-2023 and a 52 week low of Rs. 133.10 on 28-Mar-2023. Last one week high and low of the scrip stood at ...
Ashok Leyland rises on partnering with CSB Bank
Result Highlights * Asset quality: Gross slippages were under control atRs 330mn (annualized slippage ratio of 0.6%) and recoveries and upgrades were healthy at Rs 230mn * Margin picture: NIM was up 2bps QoQ to 5.40%, due to liquidity unwind, among other factors * Asset growth: Advances grew 2.1%/28.6% QoQ/YoY driven on sequential basis by Gold loans and Retail loans * Opex control: Total opex rose 11.5%/44.3% QoQ/YoY, employee expenses rose 16.9%/48.9% QoQ/YoY and other...
Buy CSB BANK Ltd For Target Rs. 360 By Yes Securities Ltd
CSB Bank reported stable numbers in 1QFY24. A strong loan growth (31% YoY, 2.2% QoQ) was reported driven by Gold loans (42% YoY) and comfortable CDR level of 86%. The credit quality recovery (NNPA: 0.32% v/s 1.7% at the end of FY22) was meaningful driven by lower delinquencies and quicker recoveries. A healthy capital position (CAR: 26%), likely to keep the momentum going. Factoring double digit advance growth, stable NIMs and lower credit cost; the bank may post 22% PAT growth in current fis...
Buy CSB BANK Ltd For Target Rs. 379 By LKP Securities Ltd
CSB Bank is currently trading at Rs. 291.70, up by 8.20 points or 2.89% from its previous closing of Rs. 283.50 on the BSE. The scrip opened at Rs. 289.00 and has touched a high and low of Rs. 295.00 and Rs. 286.10 respectively. So far 20413 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 297.20 on 28-Apr-2023 and a 52 week low of Rs. 188.00 on 05-Jul-2022. Last one week high and low of the scrip stood at Rs. 2...
CSB Bank jumps on reporting 30% rise in gross advances during first quarter of FY24
Result Highlights * Asset quality: Gross slippages were under control atRs 350mn (annualized slippage ratio of 0.8%) and recoveries and upgrades were healthy at Rs 390mn * Margin picture: NIM was down -42bps QoQ to 5.38%, due to cost of deposits moving up more than than yield on advances * Asset growth: Advances grew 11.1%/28.4% QoQ/YoY driven on sequential basis by Retail loans * Opex control: Total opex rose 10.8%/21.1% QoQ/YoY, employee expenses rose 2.6%/8.5% QoQ/YoY and other expen...
Buy CSB BANK Ltd For Target Rs. 340 By Yes Securities Ltd
CSB Bank is currently trading at Rs. 279.30, down by 13.65 points or 4.66% from its previous closing of Rs. 292.95 on the BSE. The scrip opened at Rs. 291.70 and has touched a high and low of Rs. 297.20 and Rs. 267.50 respectively. So far 151059 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 297.20 on 28-Apr-2023 and a 52 week low of Rs. 178.00 on 20-Jun-2022. Last one week high and low of the scrip stood at R...
CSB Bank falls despite reporting 20% rise in Q4 net profit
Navin Fluorine International Ltd. • NAVINFLUOR on the weekly chart has decisively broken out above the “Cup & handle” pattern with strong bullish candle indicating a positive bias. Neckline of the same was placed at 4400. • The breakout is accompanied with an increase in volume confirming 13 April, 2023participation at breakout level • Stock holding above the medium term upwards sloping trendline which is in place from Oct, 2021. • The weekly st...
Weekly Tech Picks: Navin Fluorine International Ltd, Mahindra Holidays & Resorts India Ltd &CSB Bank Ltd By Axis Securities
The Reserve Bank of India (RBI) has begun evaluating at least five potential bidders interested in picking up a majority stake in state-owned IDBI Bank Ltd, three people familiar with the matter told Reuters. Kotak Mahindra Bank, Prem Watsa-backed CSB Bank and Emirates NBD are among those that have submitted expressions of interest, two of the people said, speaking on condition of anonymity because the talks are confidential. Reuters was unable to confirm the names of the other potentia...
India central bank begins evaluating potential bidders for IDBI Bank -sources
CSB close to delivering another year of near zero credit cost Result Highlights * Asset quality: Gross slippages were under control atRs 260mn (annualized slippage ratio of 0.6%) and recoveries and upgrades were healthy at Rs 420mn * Margin picture: NIM was up 20bps QoQ to 5.80%, due to yield on advances moving up faster than cost of deposits * Asset growth: Advances grew 5.3%/23.9% QoQ/YoY driven on sequential basis by Gold loans * Opex control: Total opex rose 15.8%/18.4% QoQ...
Buy CSB BANK Ltd For Target Rs. 315 Yes Securities
CSB Bank has been reporting strong performance since listing. A strong loan growth driven by Gold loans and comfortable CDR is evident. The credit quality recovery (1.7% in 2QFY23 v/s 7.9% in FY18) was meaningful driven by lower delinquencies and quicker recoveries. A healthy capital position (CAR: 25%), post IPO is likely to keep the momentum going. Factoring double digit advance growth, stable NIMs and lower credit cost; the bank may post 22% PAT growth in current fiscal year. Attractive va...
Buy CSB BANK Ltd For Target Rs. 313 By LKP Securities
CSB Bank is currently trading at Rs. 260.40, up by 17.05 points or 7.01 % from its previous closing of Rs. 243.35 on the BSE. The scrip opened at Rs. 256.90 and has touched a high and low of Rs. 264.00 and Rs. 250.40 respectively. So far 156326 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 275.00 on 19-Dec-2022 and a 52 week low of Rs. 178.00 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs...
CSB Bank moves higher on reporting 19% rise in total deposits during third quarter of FY23
Loan growth healthy; CASA ratio moderates sequentially CSBBANK released its quarterly business update highlighting the 2QFY23 trends. It reported a healthy loan growth while deposit growth was relatively modest. Below are the key takeaways: * Gross advances grew strongly at 23.6% YoY and 8.1% QoQ to INR176.6b, led by a strong growth in Gold loans, which rose 47.5% YoY and 13.1% QoQ. Growth in gross advances, excluding Gold loans, was modest at 8.9% YoY (4.3% QoQ). The share of Gold loan...
Update on CSB Bank Ltd By Motilal Oswal Financial Services
CSB Bank is currently trading at Rs. 230.25, up by 1.65 points or 0.72% from its previous closing of Rs. 228.60 on the BSE. The scrip opened at Rs. 237.70 and has touched a high and low of Rs. 247.35 and Rs. 229.35 respectively. So far 75776 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 313.75 on 26-Oct-2021 and a 52 week low of Rs. 178.00 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 2...
CSB Bank gains on reporting marginal rise in Q2 net profit
CSB Bank offers investors an opportunity to participate in a hybrid business model that combines the profitability of gold lending along with growth profile of a new age private bank. CSB’s transformation commenced in 2018 with the entry of Fairfax as promoter with 51% stake. With the strengthening of the management team since then, CSB has cleaned up its balance sheet and is now well positioned for delivering strong credit growth along with improved profitability. Senior management ...
Stock Idea : Buy CSB Bank Ltd For Target Rs.370 - Nirmal Bang
Loan growth steady; CASA ratio improves sequentially CSBBANK released its quarterly business update highlighting 1QFY23 trends. It reported a steady loan growth while deposit growth came in relatively modest. Below are the key takeaways: * Gross advances grew 16.2% YoY and 2.1% QoQ to INR163.3b, led by a strong growth in gold loans, which grew 26.4% YoY and 8.2% QoQ. Growth in gross advances, excluding gold loans, was modest at 9.4% YoY (-2.1% QoQ). The share of gold loans in the total ...
Update CSB Bank Ltd By Motilal Oswal
CSB Bank is currently trading at Rs. 193.95, up by 2.65 points or 1.39% from its previous closing of Rs. 191.30 on the BSE. The scrip opened at Rs. 194.55 and has touched a high and low of Rs. 195.25 and Rs. 192.55 respectively. So far 3174 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 372.95 on 05-Jul-2021 and a 52 week low of Rs. 178.00 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 20...
CSB Bank trades in green as its gross advance logs 16.16% growth in first quarter of FY23
Mixed numbers; Change in mix and investment into banking services CSB Bank’s Q4FY22 numbers were decent YoY as it witnessed 10.2% growth in net interest income (NII). Also, strong recovery was seen on the asset quality front as well as lower provisions supported strong PAT growth of 204.7%. However, if we compare QoQ numbers, then net interest income growth was flat and expenses increased by 8.4% so this impacted profits as it de-growth by 12%, despite lower provisions. The company i...
Buy CSB Bank Ltd For Target Rs.261 - Religare Broking
Asset quality concerns negated, CSB plans ahead Result Highlights Asset quality: Gross slippages were under control atRs 380mn (annualized slippage ratio of 1.0%) and recoveries and upgrades were healthy at Rs 360mn Margin picture: NIM was up 1 bps QoQ to 5.42%, as higher loan-to-deposit ratio offset the impact from decline in spread Asset growth: Advances grew 7.3%/8.8% QoQ/YoY driven on sequential basis by Gold Loan and Agri & MFI Loans Opex control: Total opex rose/fell ...
Buy CSB Bank Ltd For Target Rs.316 - Yes Securities
CSB Bank is currently trading at Rs. 219.55, up by 3.10 points or 1.43% from its previous closing of Rs. 216.45 on the BSE. The scrip opened at Rs. 218.90 and has touched a high and low of Rs. 223.35 and Rs. 217.90 respectively. So far 25650 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 372.95 on 05-Jul-2021 and a 52 week low of Rs. 201.30 on 07-Mar-2022. Last one week high and low of the scrip stood at Rs. 2...
CSB Bank trades higher as its deposits up 5% in Q4FY22
Evolution of margin, asset quality and growth all heartening Result Highlights * Asset quality: Gross slippage amounted to Rs 0.81bn, implying annualized slippage ratio of 2.4% in a continued normalization of stress scenario * Margin picture: NIM expanded 24 bps QoQ to 5.46% as as yield on advances expanded while cost of deposits declined QoQ * Asset growth: Advances grew 3.4%/11.1% QoQ/YoY driven on sequential basis by bread-and-butter gold loans * Opex control: Total opex ros...
Buy CSB Bank Ltd For Target Rs.332 - Yes Securities
CSB Bank is currently trading at Rs. 247.65, up by 6.55 points or 2.72% from its previous closing of Rs. 241.10 on the BSE. The scrip opened at Rs. 247.05 and has touched a high and low of Rs. 256.95 and Rs. 245.35 respectively. So far 35794 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 372.95 on 05-Jul-2021 and a 52 week low of Rs. 215.05 on 28-Jan-2021. Last one week high and low of the scrip stood at Rs. 2...
CSB Bank surges on reporting above 2- fold jump in Q3 net profit
Business trends remain modest; CASA ratio improves CSBBANK released its quarterly business update highlighting the 3QFY22 trends. Overall, the bank reported modest business trends on both the loan and deposit fronts. The key updates are provided below: * Gross advances rose 3.8% QoQ (~+12% YoY) to INR148b, lower than some of its peers such as Federal Bank (+4.6% QoQ), due to a muted ~2% QoQ growth (2% YoY decline) in its Gold loan book. Growth in gross advances, excluding Gold loan...
Update On CSB Bank Ltd By Motilal Oswal
CSB Bank's Managing Director and CEO C. VR. Rajendran has decided to take an early retirement, the lender said on Saturday. Accordingly, Rajendran will continue to lead the bank till March 31, 2022. "After leading CSB Bank for over 5 years and playing a vital role in its transformation journey and being instrumental in making the bank cross multiple milestones, Mr. C. VR. Rajendran has decided to take an early retirement from the post of Managing Director and CEO to take care o...
CSB Bank's MD & CEO Rajendran to take early retirement
Key News Piramal Pharma invests Rs 101.77 cr for minority stake in Yapan Bio Piramal Pharma on Tuesday said it has invested Rs 101.77 crore in Hyderabad-based Yapan Bio to augment the capabilities of its contract development and manufacturing organisation (CDMO) business. The Mumbai-based company has acquired a 27.78 per cent stake in Yapan as a result of the investment. The investment will allow Piramal Pharma to strengthen Piramal Pharma Solutions (PPS), its CDMO business, by broadeni...
Key News - Piramal Pharma, JSW Cement, CSB Bank Ltd, Indian Oil Corporation Ltd, Myntra By ARETE Securities
On steady recovery path… About the stock: CSB Bank is a south based private sector bank with Kerala contributing ~50% of the total business. Changed strategy in various aspects of lending has led to transformation and improved performance in the past few years. * Gold, SME are key lending segments comprising 36%, 13%, respectively, of book * Liability franchise is healthy with loyal customer base of ~17 lakh Q2FY22 Results: CSB Bank reported a decent overall perfo...
Buy CSB Bank Ltd For Target Rs.380 - ICICI Direct
Buy CSB Bank Ltd For Target Rs.380 Gold loan slippages remain only an optical problem with minimal underlying damage Result Highlights * Asset quality: Gross slippage amounted to Rs 2.05bn (annualized slippage ratio of 5.9%) but most of the slippages came from the gold loan book, where LGD is 0.1% * Margin picture: NIM expanded 18 bps QoQ to 5.22% as interest reversals declined sequentially and so did cost of deposits * Asset growth: Advances grew 1.6%/12.6% QoQ/YoY driven on s...
Buy CSB Bank Ltd : Gold loan slippages remain only an optical problem with minimal underlying damage - Yes Securities
Business trends remain weak due to a decline in Gold loans; CASA growth moderates CSB BANK released its quarterly business update highlighting trends for 2QFY22. Here are the key highlights: * CSBBANK reported weak business trends, with gross advances up 1.7% QoQ (~12% YoY), lower than some of its peers such as FB (+3.4% QoQ) due to a decline of ~3% QoQ in its Gold loan portfolio. Growth in gross advances (excluding Gold loans) was robust (5% QoQ/13.3% YoY). The share of Gold loans i...
Update On CSB Bank Buy Motilal Oswal
Our Take: CSB Bank is a century old private sector bank in India having a strong base in Southern India. After being taken over by new promoters (Toronto-based Fairfax group), the real transformation had started. Changes like creating new brand image, funding the capital for growth, strengthening top management by bringing in new experienced people, product based lending approach etc. were done. And now after achieving critical transformation, the bank has started focusing on growth. Aggre...
Update On CSB Bank Ltd By HDFC Securities
E - margin Positional Pick Buy CSB Bank Ltd For Target Rs.343 - HDFC Securities TECHNICAL OBSERVATIONS The sharp trended decline of the last 5-6 weeks seems to have completed, as we observe a sustainable upmove in this banking stock (CSB Bank) from the lows. The stock price has formed a bottom reversal at the support of ascending trend line at Rs 300 and is moving moved upside. This pattern could be considered as a bottom reversal. The larger degree of hi...
E-Margin Positional Pick Buy CSB Bank Ltd For Target Rs. 343 - HDFC Securities
Buy CSB Bank Ltd For Target Rs.432 Mixed numbers; easing restriction and rising demand will aid growth CSB Bank reported a mixed set of numbers wherein net interest income was down by 2.9% QoQ and total income was down by 11.3% QoQ due to lower other income. However, its pre-provisioning profit was up 39% due to lower employee and depreciation cost. PAT grew by 42.2% QoQ to Rs 61cr. We believe with unlocking and improving economic conditions, the CSB bank business would witness growth f...
Buy CSB Bank Ltd : Mixed numbers; easing restriction and rising demand will aid growth - Religare Broking
Investment Pick - CSB Bank Ltd. Established in 1920, CSB Bank Ltd (known as The Catholic Syrian Bank) is one of the oldest private sector banks in India. It has a significant network in Kerala, Tamilnadu, Karnataka and Maharashtra. At present, 90% of the branches are in these four states and the remaining 10% is spread across other states in India. The bank operates mainly in four business areas namely SME banking, retail banking, wholesale banking and treasury operations. We believe CS...
Buy CSB Bank Ltd Target Rs.432 - Religare Broking
MTF Stock Pick Buy CSB BANK Ltd For Target Rs. 430 - HDFC Securities TECHNICAL OBSERVATIONS Stock has broken out from the horizontal channel pattern on the daily chart Stock has surpassed the double top crucial resistance placed in the range of 344-346 Volumes during the breakout remained significantly higher than its 10 day’s average volumes Primary trend of the stock has been bullish as stock has been forming higher tops and higher bottoms on the d...
MTF Stock Pick Buy CSB Bank Ltd For Target Rs. 430 - HDFC Securities
CSB Bank is currently trading at Rs. 238.00, up by 0.85 points or 0.36% from its previous closing of Rs. 237.15 on the BSE. The scrip opened at Rs. 241.50 and has touched a high and low of Rs. 241.50 and Rs. 237.35 respectively. So far 3927 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 279.75 on 08-Mar-2021 and a 52 week low of Rs. 99.10 on 26-Mar-2020. Last one week high and low of the scrip stood at Rs. 253...
CSB Bank gains on opening new branch in Bangalore
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