Buy Karnataka Bank, target Rs 164.0 : Nirmal Bang Securities

Nirmal Bang Securities has Buy call on Karnataka Bank Ltd. with a target price of Rs 164.0 .The current market price of Karnataka Bank Ltd. is 157.3 Time period given by analyst is Intra Day when Karnataka Bank Ltd. price can reach defined target. Nirmal Bang Securities recommended to keep stoploss at Rs 154.0 .

Karnataka Bank Ltd., incorporated in the year 1924, is a banking company (having a market cap of ₹ 4425.74 Cr.).

Karnataka Bank Ltd. key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed ₹ 3700.48 Cr to Sales Value (74.12 % of Total Sales), Income From Investment which contributed ₹ 1189.90 Cr to Sales Value (23.83 % of Total Sales), Interest which contributed ₹ 99.23 Cr to Sales Value (1.98 % of Total Sales) and Interest On Balances with RBI and Other Inter-Bank Funds which contributed ₹ 2.60 Cr to Sales Value (0.05 % of Total Sales)for the year ending 31-Mar-2016.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 1560.23 Cr. (4.30 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 1065.66 Cr. (2.99% of total assets). For the quarter ended 31-12-2016, the company has reported a Standalone Interest Income of ₹ 983.58 Cr., up .46 % from last quarter Interest Income of ₹ 979.09 Cr. and up 9.07 % from last year same quarter Interest Income of ₹ 901.80 Cr. The bank has reported net profit after tax of ₹ 68.52 Cr. in latest quarter.