India's City Union Bank jumps after June qtr profit rises

City Union Bank

10/08/2022 07:04

** Shares of City Union Bank  CTBK.NS  rise as much as 8.7%
to 176.95 rupees, highest since Oct 27, 2021
    ** CTBK on Monday posted a 30.1% rise in June-quarter net
profit to 2.25 bln rupees ($28.29 million), bolstered by a rise
in income from investments, which rose by 39.7% to 1.9 bln
rupees on Y/Y basis
    ** Bank reported interest earned at 10.99 bln rupees vs 9.97
bln rupees, Y/Y  urn:newsml:reuters.com:*:nFWN2ZK4CH
    ** More than 8.8 mln shares change hands by 0559 GMT vs 3.7
times the 30-day avg of 2.4 mln shares
    ** 17 of the 20 analysts covering the stock have a "buy" or
"strong buy" rating and 3 have "hold"; median PT is 190 rupees -
Refinitiv data
    ** Stock up 20.09% YTD up to last close



($1 = 79.5230 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))