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Stock Analysis, IPO, Mutual Funds, Bonds & More

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.

ETMarkets.com|
Updated: Jun 18, 2019, 09.14 AM IST
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Manav Chopra of Indiabulls Ventures has a sell call on Karnataka Bank Ltd. with a target price of Rs 100. The current market price of Karnataka Bank Ltd. is Rs 105.1. Time period given by the analyst is Intra Day when Karnataka Bank Ltd. price can reach the defined target. Manav Chopra recommended to keep stoploss at Rs 108. Karnataka Bank Ltd., incorporated in 1924, has a market cap of Rs 3029.56 crore.

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.

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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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