India's Karur Vysya Bank falls on monetary penalty from RBI

Karur Vysya Bank

27/03/2023 05:25

** Shares of Karur Vysya Bank Ltd  KARU.NS  fall as much as
4.6% to 92.90 rupees, their lowest since Oct. 25, 2022.
    ** Reserve Bank of India (RBI) late on Friday said it
imposed a monetary penalty of 3 million rupees ($36,440.94) on
the banking and financial services co 
    ** Penalty is for non-compliance with certain provisions of
RBI and action is based on deficiencies in regulatory compliance
    ** More than 1.1 mln shares traded as of 09:49 a.m. IST, vs
30-day moving avg of over 2 mln shares
    ** All 11 brokerages tracking stock rate it "buy" or higher;
their median PT is 135 rupees - Refinitiv data
    ** KARU down 14% YTD, as of last close


($1 = 82.3250 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))