Buy City Union Bank, target price Rs 163: Axis Securities

Axis Securities has buy call on City Union Bank Ltd. with a target price of Rs 163. The current market price of City Union Bank Ltd. is Rs 138.35. Time period given by analyst is 4 weeks when City Union Bank Ltd. price can reach defined target.

City Union Bank Ltd., incorporated in the year 1904, is a banking company (having a market cap of Rs 10265.44 Crore).

City Union Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-03-2022, the company reported a Standalone Total Income of Rs 1252.87 Crore, up 4.82 % from last quarter Total Income of Rs 1195.24 Crore and up 11.72 % from last year same quarter Total Income of Rs 1121.43 Crore. The bank reported net profit after tax of Rs 208.96 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 0 per cent stake in the company as of 31-Mar-2022, while FIIs owned 18.12 per cent, DIIs 41.22 per cent.