Time to Buy City Union Bank Share, target of Rs 180: Sharekhan

City Union Bank Share Target
City Union Bank Share Target

City Union Bank Share Target

City Union Bank (CUBK) posted in-accordance with desires results; resource quality was to a great extent stable with improving PCR.

Edge additionally enhanced a successive premise. Resource quality enhanced a consecutive premise, with GNPA at 3.44% and NNPA at 1.81% for H1FY2021, down 65 bps/48 bps from FY2020. In addition,

PCR improved by 200 bps q-o-q to arrive at 70%. CUBK’s administration critique was empowering with the board showing better pickup in business volumes and demonstrated development to return in Q4 (from Q1FY2022 guided prior).

City Union Bank Share Analysis

CUBK at present exchanges at 1.8x/1.5x its FY2022E/FY2023E book esteem, which we accept is sensible; We suggest Buy on the stock with a PT of Rs. 180.

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