India's Karur Vysya Bank climbs on revised MCLR

Karur Vysya Bank

06/03/2023 06:58

** Shares of Karur Vysya Bank Ltd  KARU.NS  rise as much as
2.5% to 104.75 rupees, highest since Feb. 16
    ** Bank says it revised its one year Marginal Cost of Funds
Based Lending Rates (MCLR) to 9.35% from 9.05%, effective March
7
    ** Trade volume at about 2.3 million shares by 12:18 p.m.
IST, 0.7x the 30-day avg
    ** Stock crosses 100-day simple moving average (SMA),
continues to stay above 200-day SMA
    ** Stock set to rise for second straight session
    ** All 12 analysts covering stock rate it equivalent of
'buy' or 'strong buy' with median PT of 135 rupees - Refinitiv
data
    ** Stock down 9.8% so far this year, as of last close

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))