Powered by: Motilal Oswal

News

Add City Union Bank Ltd For Target Rs. 170 By Emkay Global Financial Services Growth and PCR gathering momentum; upgrade to ADD CUBK posted a ~6% beat in earnings with PAT/RoA at Rs2.9bn/1.6%. This was mainly due to healthy margins (up by 13bps QoQ) and other income, partly offset by higher provisions as the bank finally starts to accelerate its otherwise lower PCR (a major irritant). CUBK has also delivered a healthy double-digit growth of 12% YoY/5% QoQ on the back of pick-up seen in its MSME, GL, and Corporate book. This growth has been achieved without any meani...
Add City Union Bank Ltd For Target Rs. 170 By Emkay Global Financial Services
Add City Union Bank Ltd For Target Rs. 170 By Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-11-01 09:58:36 am
Buy City Union Bank Ltd For Target Rs.185 By JM Financial Services CUBK reported a healthy quarter with PAT at INR 2.9bn (+1.6% YoY, 7.8% QoQ), +2% ahead of our expectations. PPOP grew at +11% YoY, +15 QoQ (led by margin expansion of +13bps QoQ) and strong other income (+24% YoY, driven by recoveries from w/o accounts) despite marginally elevated opex (+4.6% QoQ) and higher provisions (credit cost at 0.59%, +25bps QoQ). NIM (at 3.67% vs 3.54% QoQ) expansion was led by sequentially higher yields (as the bank took price hikes) and lower CoF. Headline asset qua...
Buy City Union Bank Ltd For Target Rs.185 By JM Financial Services
Buy City Union Bank Ltd For Target Rs.185 By JM Financial Services
Source: JM Financial Services Ltd
2024-10-22 03:15:10 pm
Add City Union Bank Ltd For Target Rs.175 By Mirae Asset Ltd CUBK reported robust performance for Q2FY25 with higher than estimated growth & profitability. PAT rose by 8% QoQ to INR 2.8bn mainly driven by strong NIM (3.67%, +13 bps QoQ) driving 8 bps exp CUBK reported robust performance for Q2FY25 with higher than estimated growth & profitability. PAT rose by 8% QoQ to INR 2.8bn mainly driven by strong NIM (3.67%, +13 bps QoQ) driving 8 bps expansion in RoA to 1.59%. Business momentum remained strong as loan/deposits growth picked up 5% each sequentially. With double digit growth in H1FY25, management is confident to take loan growth at par with industry in FY25E. Further, it expects the focus on retail secured products such as micro-LAP,...
Add City Union Bank Ltd For Target Rs.175 By Mirae Asset Ltd CUBK reported robust performance for Q2FY25 with higher than estimated growth & profitability. PAT rose by 8% QoQ to INR 2.8bn mainly driven by strong NIM (3.67%, +13 bps QoQ) driving 8 bps exp
Add City Union Bank Ltd For Target Rs.175 By Mirae Asset Ltd CUBK reported robust performance for Q2FY25 with higher than estimated growth & profitability. PAT rose by 8% QoQ to INR 2.8bn mainly driven by strong NIM (3.67%, +13 bps QoQ) driving 8 bps exp
Source: Mirae Asset Ltd.
2024-10-22 02:12:39 pm
Tech Star : City Union Bank Limited And KNR Constructions Limited - Religare Broking City Union Bank Limited We have been seeing mixed trend within the banking space and CUB is setting ground for the next leg of the up move. It has been inching gradually higher for the last two months, after retesting its monthly support zone around 115 levels. Indications are in the favor of further traction, citing the noticeable surge in the volumes. Traders can accumulate in the mentioned range.   Buy City Union Bank Limited CMP 171 Range 168-172 ...
Tech Star : City Union Bank Limited And KNR Constructions Limited - Religare Broking
Tech Star : City Union Bank Limited And KNR Constructions Limited - Religare Broking
Source: Religare Broking
2024-08-09 02:33:03 pm
Buy City Union Bank Ltd For Target Rs. 210 By Yes Securities Our view – Negative net slippages a sign of things to come Asset quality – Slippages remained under control while recoveries continued their healthy trend: For the quarter, Gross NPA additions had amounted to Rs 1.78bn, implying an annualised gross slippage ratio was 1.5%, while recoveries and upgrades amounted to Rs 1.92bn. The calculated annualised credit cost was 34bps in 1Q. The management has guided that the slippages for FY25 would be lower than Rs 8.0bn and the current l...
Buy City Union Bank Ltd For Target Rs. 210 By Yes Securities
Buy City Union Bank Ltd For Target Rs. 210 By Yes Securities
Source: Yes Securities Ltd
2024-08-07 01:50:26 pm
Accumulate City Union Bank For Target Rs.158 - Elara Capital Growth challenges persist, revival key Core soft, lower credit costs cushion earnings City Union Bank’s (CUBK IN) Q3 PAT at INR 2.5bn was below estimates, on softer core profitability even as lower credit cost cushioned the impact . Key highlights were: a) persistent growth challenges – Loan growth at sub-3% YoY (up 0.8% QoQ), which remained under the radar, b) NIM dip of 24bps QoQ, following one-time (FITL) impact, excluding which the impact was much lower and c) sustained ...
Accumulate City Union Bank For Target Rs.158 - Elara Capital
Accumulate City Union Bank For Target Rs.158 - Elara Capital
Source: Elara Capital
2024-02-04 12:05:17 pm
Hold City Union Bank Ltd For Target Rs.152 - Emkay Global Financial Services Notwithstanding the anemic credit growth at 2% YoY/3% QoQ, CUBK reported a strong 27% PAT beat at Rs2.8bn/1.7% RoA, mainly owing to lower LLP, and partly offset by lower other income and higher opex. Margin improved after a long break – up by 7bps QoQ to 3.74% due to better loan/investment yields. Asset quality too improved sharply, with GNPA/NNPA ratio down by 25bps/17bps QoQ to 4.7%/2.3%, respectively. Going forward, Bank expects the growth trajectory to gradually improve, and plans t...
Hold City Union Bank Ltd For Target Rs.152 - Emkay Global Financial Services
Hold City Union Bank Ltd For Target Rs.152 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-03 01:05:57 pm
Add City Union Bank Ltd For Target Rs.155 - Yes Securities Ltd CUB ripe for a mini-bounceback but not compelling enough for an upgrade Result Highlights (See “Our View” below for elaboration and insight) * Asset quality: Gross NPA additions amounted to Rs 2.25bn for the quarter, translating to an annualized slippage ratio of 2.0%. * Margin picture: NIM at 3.74% was up/down 7bps/-35bps QoQ/YoY, higher QoQ due to rise in yield on advances outpacing the rise in cost of deposits ? Asset growth: Advances grew 3.0%/2.3% QoQ/YoY, driven hig...
Add City Union Bank Ltd For Target Rs.155 - Yes Securities Ltd
Add City Union Bank Ltd For Target Rs.155 - Yes Securities Ltd
Source: Yes Securities Ltd
2023-10-31 11:45:15 am