BUZZ — India's Karur Vysya Bank rises on strong quarterly performance
* Shares of India's Karur Vysya Bank rise as much 5.8% to 365.90 rupees; stock last up 1% * Bank says Q2 net profit rose 37% to 7.88 billion rupees ($82.9 million) from 5.74 billion rupees a year ago * Bank's quarterly interest earned rose to 32.32 billion rupees from 28.08 billion rupees * BOB Capital says growth of gross advances to 20% Y/Y and strong loan growth supported quarterly earnings; raises NIM guidance to above 4% for FY27 from 3.7% to 3.8% and expects loan growth of 20% in FY27 * Emkay expects credit growth of 18-20% in FY27 * Stock rated "buy" on avg by 18 analysts, with median PT of 392.50 rupees - data compiled by LSEG * Stock up 32.17% YTD ($1 = 94.9600 Indian rupees) (Reporting by Anushka Rajvedi in Bengaluru) ((mailto: anushka.rajvedi@thomsonreuters.com)
* Shares of India's Karur Vysya Bank rise as much 5.8% to 365.90 rupees; stock last up 1% * Bank says Q2 net profit rose 37% to 7.88 billion rupees ($82.9 million) from 5.74 billion rupees a year ago * Bank's quarterly interest earned rose to 32.32 billion rupees from 28.08 billion rupees * BOB Capital says growth of gross advances to 20% Y/Y and strong loan growth supported quarterly earnings; raises NIM guidance to above 4% for FY27 from 3.7% to 3.8% and expects loan growth of 20% in FY27 * Emkay expects credit growth of 18-20% in FY27 * Stock rated "buy" on avg by 18 analysts, with median PT of 392.50 rupees - data compiled by LSEG * Stock up 32.17% YTD ($1 = 94.9600 Indian rupees) (Reporting by Anushka Rajvedi in Bengaluru) ((mailto: anushka.rajvedi@thomsonreuters.com)