Sell Karnataka Bank, target Rs 100: Manav Chopra
Sell Karnataka Bank Ltd. at a price target of Rs 100.0 and a stoploss at Rs 108 from entry point.
Karnataka Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 4081.92 Crore to Sales Value (75.26 % of Total Sales), Income From Investment which contributed Rs 1161.53 Crore to Sales Value (21.41 % of Total Sales), Interest which contributed Rs 164.42 Crore to Sales Value (3.03 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 15.87 Crore to Sales Value (0.29 % of Total Sales)for the year ending 31-Mar-2018.
The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 2456.38 Crore (4.41 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 1616.71 Crore (2.95% of total assets). For the quarter ended 31-03-2019, the company has reported a Standalone Interest Income of Rs 1224.91 Crore, up .82 % from last quarter Interest Income of Rs 1214.97 Crore and up 13.41 % from last year same quarter Interest Income of Rs 1080.08 Crore. The bank has reported net profit after tax of Rs 61.73 Crore in latest quarter.