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    Karur Vysya Bank — is it a value buy post correction?

    We advise investors to wait for the downside to play out. ​

    Madhuchanda Dey
    February 22, 2019 / 07:57 AM IST
    Karur Vysya Bank — is it a value buy post correction?

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Madhuchanda Dey

    Moneycontrol Research

    • Significant rise in slippages in loan quality in December 2018 quarter

    • Management says there will be large slippages in the coming five quarters

    • Higher loan loss provision will keep near-term earnings subdued

    • Management’s long-term strategic intent reassuring

    • Another 15 percent stock downside likely

      ======================================================

    Karur Vysya Bank (KVB, CMP: Rs 66.80, M Cap: Rs 5335 crore) once considered the "HDFC Bank of old generation banks", had a rough ride as the corporate credit cycle weakened resulting in the formation of

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