India's City Union Bank declines on Q1 margin drop, high valuation worries
29/07/2026 07:09
BUZZ-India's City Union Bank declines on Q1 margin drop, high valuation worries ** City Union Bank CTBK.NS drops 5% to 226.25 rupees after 7.5% jump on Tuesday post Q1 earnings
** While growth momentum remains intact, lender's net interest margin disappointed, per analysts
** Reported net interest margin (NIM) contracts 9 bps sequentially to 3.78%
** Macquarie says cost of deposits likely to rise due to intense competition, propelling CTBK to guide for NIM range of 3.65%-3.7%
** JM Financial downgrades stock to "Add" from "Buy", citing current valuations limit further upside
** Stock rated "Buy" on average by 24 brokerage firms, median PT at 240 rupees, per data compiled by LSEG
** YTD, CTBK up 4.7%
(Reporting by Vivek Kumar M)
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India's City Union Bank declines on Q1 margin drop, high valuation worries