KARURVYSYA

** Karur Vysya Bank KARU.NS jumps ~4% to 227 rupees

** Lender's Q3 net profit jumps 21% y/y; interest earned grows 16%

** Around 4 mln shares traded vs 30-day avg of 1.4 mln

** KARU gained ~29% in 2024

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of South Indian Bank SIBK.NS up 3%, set for their best day in nearly a month

** Lender reports an about 12% year-on-year rise in Q3 gross advances, total deposit rises 6.3%

** Stock sees busiest day since Dec. 6, trading vols at 2 times their 30-day average

** SIBK gained 2% in 2024, compared with 28.5% and 16% rise in peers Karur Vysya Bank KARU.NS and City Union Bank CTBK.NS, respectively

(Reporitng by Nishit Navin)

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** Shares of Karur Vysya Bank KARU.NS rise as much as 4.1% to 226 rupees, before easing to 3% gains

** Lender's provisional total deposits grew 15.75% y/y as of Dec 31, while advances grew 13.96%

** 12 analysts' avg rating is equivalent of "strong buy"; median PT 252 rupees, ~13% higher than current price -LSEG data

** Stock has more than doubled in value in a seven-qtr rally

** It gained 28.6% in 2024, rising for third straight year

(Reporting by Anuran Sadhu in Bengaluru)

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Dec 3 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• KARUR VYSYA BANK - RBI IMPOSED PENALTY OF 10,000 RUPEES FOR DISCREPANCIES AT CURRENCY CHEST

Further company coverage: KARU.NS

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Nov 8 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• KARUR VYSYA BANK - RESERVE BANK OF INDIA IMPOSED MONETARY PENALTY OF 20,000 RUPEES

• KARUR VYSYA BANK - PENALTY FOR DEFICIENCIES OBSERVED IN PROVIDING EXCHANGE OF MUTILATED NOTES

Source text: ID:nNSE2H1sdp

Further company coverage: KARU.NS

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** Shares of India's Karur Vysya Bank KARU.NS up 5% to 215 rupees

** Lender posted ~25% Y/Y rise in net profit for Sept qtr, while interest earned grew about 19%

** Stock set to extend gains for a second straight session

** Mean recommendation of all analysts covering KARU is "strong buy", median TP is 249 rupees - LSEG data

** Stock has gained ~29% YTD

(Reporting by Yagnoseni Das in Bengaluru)

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Aug 6 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• KARUR VYSYA BANK LTD - REVISES ONE YEAR MCLR FROM 10.10% TO 10.00%, EFFECTIVE AUG 7

Source text for Eikon: [ID:]

Further company coverage: KARU.NS

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Updates market reaction, quotes

By Dharamraj Dhutia

MUMBAI, July 23 (Reuters) - The Indian government has lowered its planned gross market borrowing by 120 billion rupees ($1.44 billion) for the financial year ending March 2025, Finance Minister Nirmala Sitharaman announced in the federal budget on Tuesday.

The government aims to borrow a gross of 14.01 trillion rupees, down from 14.13 trillion rupees announced at the time of the interim budget in February.

In the previous financial year, the government borrowed 15.43 trillion rupees.

It also aims to reduce its fiscal deficit to 4.9% of gross domestic product (GDP), down from 5.1% in interim budget.

WHY IT'S IMPORTANT

Government borrowings are one of the key drivers for bond yields, which have fallen since the start of this financial year.

India's government finances have also come into sharper focus this year as local currency bonds have been included in JPMorgan's emerging market debt index.

Foreigners bought $8 billion worth of bonds on a net basis in 2024, and the outlook on government finances is being watched keenly by offshore investors.

MARKET REACTION

Government bond yields eased briefly, with the benchmark 10-year bond yield IN10YT=RR easing to 6.9260%, lowest since April 2022.

However, yields reversed immediately as cut in borrowing was below what many market participants were anticipating.

The benchmark bond yield IN071034G=CC was at 6.9723%, against 6.9633% previous close.

KEY QUOTES

We aim to reach fiscal deficit below 4.5% next year. From 2026-27 onwards, our endeavor will be to keep fiscal deficit such that central government debt as a percentage of GDP will be on a declining path, Finance Minister Nirmala Sitharaman said.

"There is some position adjustment as a kneejerk reaction as some investors were expecting a larger cut. Overall budget is positive with priority given to fiscal prudence. I expect benchmark bond yield to ease to 6.90%, with an upside cap of 7.00%," said VRC Reddy, treasury head at Karur Vysya Bank.

"The long-end yields may see some selling pressure, while short-term yields could ease. Still, the benchmark bond yield is likely to top at 7.02%," said Vijay Sharma, senior executive vice president at PNB Gilts.

GRAPHIC

($1 = 83.6200 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman )

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** Shares of India's PC Jeweller PCJE.NS rise 4.8% to 70.5 rupees

** Embattled ornaments maker said lender Bank of Baroda BOB.NS has approved one-time settlement proposal for outstanding dues

** IndusInd Bank INBK.NS, Punjab National Bank PNBK.NS, State Bank of India SBI.NS and Karur Vysya Bank KARU.NS had earlier accepted co's proposals to settle unpaid debts

** Session's move takes YTD gains to ~51%

(Reporting by Hritam Mukherjee in Bengaluru)

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July 18 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• JUNE-QUARTER NET PROFIT 4.59 BILLION RUPEES

• JUNE-QUARTER INTEREST EARNED 22.85 BILLION RUPEES

• JUNE-QUARTER GROSS NPA 1.32%

• JUNE-QUARTER PROVISIONS AND CONTINGENCIES 1.33 BILLION RUPEES

• JUNE-QUARTER NET NPA 0.38%

Further company coverage: KARU.NS

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July 1 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• ADVANCES AS OF JUNE-END UP 16.06% Y/Y

• AS ON JUNE 30, PROVISIONAL TOTAL DEPOSITS UP 14.41%

Further company coverage: KARU.NS

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May 13 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• KARUR VYSYA BANK LTD - DIVIDEND OF 2.4 RUPEES PER SHARE

• KARUR VYSYA BANK MARCH-QUARTER NET PROFIT 4.56 BILLION RUPEES VERSUS 3.38 BILLION RUPEES

• KARUR VYSYA BANK MARCH-QUARTER GROSS NPA 1.40% VERSUS 1.58% PREV QUARTER

• KARUR VYSYA BANK MARCH-QUARTER INTEREST EARNED 21.85 BILLION RUPEES VERSUS 17.68 BILLION RUPEES

• KARUR VYSYA BANK MARCH-QUARTER PROVISIONS AND CONTINGENCIES 2.93 BILLION RUPEES VERSUS 2.93 BILLION RUPEES

• KARUR VYSYA BANK MARCH-QUARTER NET NPA 0.40% VERSUS 0.42% PREV QUARTER

Source text for Eikon: [ID:]

Further company coverage: KARU.NS

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April 4 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• INCOME TAX ASSESSMENT UNIT HAS RAISED DEMAND OF 403.4 MILLION RUPEES

Source text for Eikon: ID:nBSE7DtnPh

Further company coverage: KARU.NS

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April 3 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• INCOME TAX ASSESSMENT UNIT HAS RAISED DEMAND AT 403.4 MILLION RUPEES

• BANK IS PROCESS OF FILING APPEAL BEFORE FIRST APPELLATE AUTHORITY

Source text for Eikon: ID:nNSE8ZjpY4

Further company coverage: KARU.NS

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** Shares of CSB Bank CSBB.NS rise 3.3% to 379.6 rupees

** Lender on Monday said its gross advances for the quarter ended March grew 17.9% y/y, while total deposits rose 21.3%

** Stock on track to rise for a seventh straight session, if gains hold; CSBB declined in Q4, snapping a six-quarter winning streak

** Stock has fallen about 8% so far this year, peers South Indian Bank SIBK.NS and Karur Vysya Bank KARU.NS lost 2.9% and 0.3%, respectively, during this period

(Reporting by Yagnoseni Das in Bengaluru)

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April 1 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• TOTAL ADVANCES GREW 16.04% Y/Y AS ON MARCH 31

• TOTAL DEPOSITS UP 16.28% Y/Y AS ON MARCH 31

Source text for Eikon: [ID:]

Further company coverage: KARU.NS

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March 14 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• SEBI HAS APPROVED APPLICATION FOR SURRENDER OF CERTIFICATE AS MERCHANT BANKER

Source text for Eikon: ID:nNSE7bcv4H

Further company coverage: KARU.NS

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** Shares of Karur Vysya Bank KARU.NS rise 2.6% to 183.4 rupees

** Over 1 mln shares trade hands in a block deal priced at 180.2 rupees - LSEG data

** Price is at ~1% premium to KARU's Monday close

** Lender snaps six consecutive sessions of losses

** More than 4.4 mln shares change hands, 1.2x its 30-day avg

** Twelve analysts covering the stock on avg have a "strong buy" rating; median PT is 202.5 rupees - LSEG data

** KARU trading above its 200-day simple moving avg since July 20, 2022

** Stock up ~9% in Q4, eyes fourth consecutive monthly gain

(Reporting by Ashna Teresa Britto in Bengaluru)

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By Dharamraj Dhutia and Bhakti Tambe

MUMBAI, Feb 2 (Reuters) - Indian government bond yields plummeted this week, with the benchmark yield posting its biggest drop in 15 months, as investors cheered a fiscally-prudent federal budget and as U.S. Treasury yields nosedived.

India's benchmark 10-year yield IN071833G=CC ended at a 7-month low of 7.0555%, against the previous close of 7.0583%. The yield fell 12 basis points this week, the sharpest decline since Nov. 11, 2022.

"The budget has provided a positive outlook and a kicker for bond market as the supply is going to be at same levels whereas the expected demand is more on account on global bond (index) inclusion," VRC Reddy, treasury head at Karur Vysya Bank, said.

"It is a Goldilocks period for the bond market and time to play with duration, possible to see the 6.80% levels in the first half of this calendar year."

India's government, in its interim budget for the next fiscal year, said that it aims to reduce the fiscal deficit to 5.1% of gross domestic product, from a downwardly revised 5.8% for this financial year.

It will aim to gross borrow 14.13 trillion rupees ($170.50 billion) via bonds in the next fiscal that starts April 1, sharply below expectations and also lower than current year's planned borrowing.

On Friday, a bond auction saw good demand.

Traders now await the Indian central bank's decision, due on Thursday, with most expecting no change in rates.

The plan to tighten fiscal policy could push the country's central bank to ease its stance on liquidity, Neeraj Gambhir, the treasury head of Axis Bank, said on Friday, but he does not expect any immediate action next week.

Meanwhile, U.S. Treasury yields dropped this week amid rising safe-haven demand, with the 10-year yield US10YT=RR falling over 25 basis points to trade below 3.90%.

($1 = 82.8760 Indian rupees)

(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Mrigank Dhaniwala)

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Jan 22 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• KARUR VYSYA BANK DEC-QUARTER NET PROFIT 4.12 BILLION RUPEES VERSUS 2.89 BILLION RUPEES

• KARUR VYSYA BANK DEC-QUARTER INTEREST EARNED 21.39 BILLION RUPEES VERSUS 16.95 BILLION RUPEES

• KARUR VYSYA BANK DEC-QUARTER PROVISIONS AND CONTINGENCIES 1.5 BILLION RUPEES VERSUS 3.64 BILLION RUPEES

• KARUR VYSYA BANK DEC-QUARTER GROSS NPA 1.58% VERSUS 1.73% PREV QUARTER

• KARUR VYSYA BANK DEC-QUARTER NET NPA 0.42% VERSUS 0.47% PREV QUARTER

Source text for Eikon: ID:nNSE7gBK6s

Further company coverage: KARU.NS

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** Shares of DCB Bank DCBA.NS close up 1.4% at 148.35 rupees, paring back gains of 2.4% earlier in the session

** DCBA on Tuesday said RBI allowed ICICI Prudential Asset Management and ICICI Ventures Fund Management to acquire aggregate holding of up to 9.95% of the bank

** Stock above 50-, 100- and 200-day moving averages since early-December 2023

** Avg rating of 20 analysts close to equivalent of "buy" with only one rating it the equivalent of "strong sell" - LSEG

** The median PT of 148 rupees is marginally below session's close

** Peers Karur Vysya Bank KARU.NS has "strong buy" rating, while IndusInd Bank INBK.NS and Bandhan Bank BANH.NS have "buy" - LSEG data

** DCBA stock rose 4.9% in 2023 while KARU, INBK and BANH rose 49.1%, 31.1% and 3.1% respectively

(Reporting by Ashish Chandra in Bengaluru)

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Jan 1 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• ADVANCES AS OF DEC 31 UP 17.1% YOY

• TOTAL DEPOSITS AS ON DEC 31 UP 12.82% YOY

Further company coverage: KARU.NS

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Dec 29 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• RBI GRANTED APPROVAL FOR ICICI PRUDENTIAL ASSET MANAGEMENT CO TO ACQUIRE UP TO 9.95% STAKE IN CO

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** Shares of Karur Vysya Bank KARU.NS rise as much as 3.3% to a record high of 170.4 rupees

** SBI Mutual Fund bought 12 mln shares at 162 rupees per share, amounting to 1.5% stake in co, as per NSE data

** End of Nov., RBI had given nod to SBI Mutual Fund to buy upto 9.99% stake in KARU

** KARU set for third straight session of gains, if trend holds

** Stock trading above its 200-day simple moving average since mid-July, 2022

** Twelve analysts tracking KARU on average have "strong buy" rating; median PT is 175 rupees- LSEG data

** Including sessions gains, stock up 47% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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Corrects second bullet to say RBI's approval is to buy upto 9.99% stake, not of 9.99%

** Shares of Karur Vysya Bank KARU.NS up as much as 3% to 157.90 rupees

** Lender said Reserve Bank of India (RBI) gave approval to SBI Mutual Fund to buy upto 9.99% stake in KARU

** All twelve analysts tracking KARU rate it "buy" or "strong buy"; median PT is 175 rupees - LSEG data

** Stock last up 0.8%, extending YTD gains to ~36%

(Reporting by Kashish Tandon in Bengaluru)

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Nov 6 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• KARUR VYSYA BANK LTD - REVISION OF ONE YEAR MCLR TO 9.85% FROM 9.65%, EFFECTIVE NOV 7

Source text for Eikon: ID:nBSE2rxkZg

Further company coverage: KARU.NS

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Oct 26 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• SAYS MEDIA REPORTS ON CEO OF BANK RESIGNING IS FALSE AND INCORRECT

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** Shares of India's Karur Vysya Bank KARU.NS up as much as 7.45% to hit record high at 147.85 rupees

** Lender reported highest ever quarterly profit during market hours on Monday; stock settled 2.15% higher after results

** Total business crossed 1.5 trln rupees for the first time, while return on assets rose to a decade high 1.57% and loan book grew 15.33% Y/Y in September quarter

** Brokerages HDFC Securities, Antique Stock Broking, Elara Capital raise TP on KARU citing healthy deposit growth and liquidity

** Mean recommendation of 12 analysts "strong buy", median TP 166 rupees - LSEG data

** Stock closed 2.15% higher on Monday after Q2 standalone net profit jumped 51%

(Reporting by Hritam Mukherjee in Bengaluru)

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Oct 16 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• SEPT-QUARTER NET PROFIT 3.78 BILLION RUPEES VERSUS 2.5 BILLION RUPEES

• SEPT-QUARTER GROSS NPA 1.73% VERSUS 1.99% PREV QUARTER

• SEPT-QUARTER INTEREST EARNED 19.97 BILLION RUPEES VERSUS 15.79 BILLION RUPEES

• SEPT-QUARTER PROVISIONS AND CONTINGENCIES 1.26 BILLION RUPEES VERSUS 2.27 BILLION RUPEES

• SEPT-QUARTER NET NPA 0.47% VERSUS 0.59% PREV QUARTER

Further company coverage: KARU.NS

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Oct 5 (Reuters) - Karur Vysya Bank Ltd KARU.NS:

• KARUR VYSYA BANK REVISES ONE YEAR MCLR TO 9.65% FROM 9.60% EFFECTIVE OCT 7, 2023

Source text for Eikon: ID:nNSE7Bfjxb

Further company coverage: KARU.NS

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