India's Karur Vysya Bank rises on strong quarterly performance
BUZZ-India's Karur Vysya Bank rises on strong quarterly performance ** Shares of India's Karur Vysya Bank KARU.NS rise as much 5.8% to 365.90 rupees; stock last up 1%
** Bank says Q2 net profit rose 37% to 7.88 billion rupees ($82.9 million) from 5.74 billion rupees a year ago
** Bank's quarterly interest earned rose to 32.32 billion rupees from 28.08 billion rupees
** BOB Capital says growth of gross advances to 20% Y/Y and strong loan growth supported quarterly earnings; raises NIM guidance to above 4% for FY27 from 3.7% to 3.8% and expects loan growth of 20% in FY27** Emkay expects credit growth of 18-20% in FY27
** Stock rated "buy" on avg by 18 analysts, with median PT of 392.50 rupees - data compiled by LSEG
** Stock up 32.17% YTD
($1 = 94.9600 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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