Latest news with #CityUnionBank
Mint
12 hours ago
- Business
- Mint
City Union Bank share price soars 2% to reach highest level since March 2020, jumps 40% in under 4 months
City Union Bank share price in focus: Despite the Indian stock market trading in a narrow range, shares of City Union Bank extended their winning streak for a fourth consecutive session on Tuesday, June 10, gaining another 2% to reach their highest level since March 2020 and inching closer to the all-time high of ₹ 249.35 apiece, last seen in January 2020. The stock of the private sector lender has been on an upward trajectory over the past four months (including June), delivering a strong 40% return and significantly outperforming the Nifty Bank index, which gained 17.30% during the same period. Investor sentiment towards the bank has improved following its return to a growth trajectory in the March quarter, driven by ongoing digital transformation efforts. This performance has also prompted domestic brokerage firms to raise their target multiples, further fueling the rally. The bank is planning to raise funds, with a final decision expected at the upcoming Annual General Meeting (AGM). The AGM date will be set during the Board of Directors meeting scheduled for Wednesday, June 11, 2025. For the March quarter, the bank reported a 13% YoY increase in net profit to ₹ 288 crore, driven by stronger fee income, particularly from insurance and processing charges. Net Interest Income (NII) rose 10% YoY to ₹ 600 crore, while Net Interest Margins (NIMs) improved marginally by 2 basis points, as the bank shed lower-yielding loans. Following the bank's in-line performance, Axis Securities revised its target price for City Union Bank to ₹ 225 apiece while maintaining a 'Buy' rating. Similarly, IDBI Capital retained its 'Buy' rating with a target of ₹ 215. Anand Rathi also maintained a 'Buy' with a 12-month target of ₹ 218, while Prabhudas Lilladher raised its target to ₹ 210 from ₹ 200, reiterating its 'Buy' stance. Anshul Jain, Head of Research at Lakshmishree Investments, said, " City Union Bank is consolidating in a massive 236-week-long base with a pivot neckline placed at ₹ 210. A breakout above this level, especially with strong volume participation, will mark a significant structural shift and act as a launchpad for a major rally. 'The upside target post-breakout is placed at ₹ 300. Given the duration of the base and potential for re-rating, traders and investors should watch ₹ 210 closely for confirmation before entering long positions,' Anshul further added. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Business Upturn
03-06-2025
- Business
- Business Upturn
Stocks hitting 52-week highs today, June 3: BSE, City Union Bank, Garden Reach, Bharti Hexacom and more
By Aman Shukla Published on June 3, 2025, 16:00 IST Despite broader market weakness on Monday, June 3, several stocks defied the trend and touched their 52-week highs. The Indian stock market ended the day in the red, with both benchmark indices registering losses. The BSE Sensex dropped 636.24 points (0.78%) to close at 80,737.51, while the NSE Nifty 50 fell 174.10 points (0.70%) to end at 24,542.50. Here is a list of notable stocks that hit their 52-week highs today: Company Market Price Change (%) 52-Week High BSE Ltd. ₹2,764.90 +2.66% ₹2,787.80 City Union Bank ₹202.28 +1.83% ₹204.00 Solar Industries India ₹16,619.00 +1.99% ₹16,816.00 Garden Reach Shipbuilders & Engineers ₹3,150.50 +6.22% ₹3,188.70 Radico Khaitan ₹2,670.80 +4.78% ₹2,703.20 GE Vernova T&D India ₹2,340.10 +1.77% ₹2,373.00 Authum Investment & Infrastructure ₹2,473.60 +3.61% ₹2,514.50 Bharti Hexacom ₹1,887.20 +1.98% ₹1,932.00 HDFC Asset Management Company ₹4,789.50 -0.66% ₹4,939.40 Intellect Design Arena ₹1,170.70 -1.85% ₹1,209.70 Deepak Fertilisers & Petrochemicals Corp ₹1,540.10 +4.05% ₹1,594.80 Indian Bank ₹632.40 -2.14% ₹658.50 Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Bharti HexacomBSECity Union BankGarden ReachStock Market Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
22-05-2025
- Business
- Business Standard
These 2 smallcap stocks see Golden Crossover on charts; can rally up to 21%
Shares of City Union Bank and Sumitomo Chemical India - smallcaps - have witnessed a Golden Crossover on the daily charts on Thursday, May 22. Technically, the term 'Golden Crossover' means that the short-term moving average - the 50-Day Moving Average (50-DMA) of the particular stock has now crossed-over the 200-DMA on the higher side. In general, a 'Golden Crossover' implies a bullish (positive) bias for the particular stock as the short-term moving average which crosses-over, tends to provide support at higher levels. CATCH LATEST STOCK MARKET LATEST UPDATES TODAY LIVE Here's a detailed technical analysis on these 2 smallcap stocks basis today's 'Golden Crossover'. City Union Bank (CUB) Current Price: ₹196 Upside Potential: 21% Support: ₹193.50; ₹189; ₹180 Resistance: ₹199; ₹207; ₹211; ₹227 City Union Bank stock has been making higher-highs and higher lows on the daily scale for the last two months. The stock is expected to trade on a buoyant note as long as it holds above ₹193.50 levels. Below which, support for the stock can be anticipated around ₹189 and ₹180 levels. CLICK HERE FOR THE CHART On the upside, the stock can potentially challenge its record high, which stands at ₹237. Technical chart shows presence of interim resistance around ₹199, ₹207, ₹211 and ₹227 levels. Sumitomo Chemical India Current Price: ₹533 Upside Potential: 16.3% Support: ₹527; ₹514; ₹500; ₹476 Resistance: ₹559; ₹570 Sumitomo Chemical stock has been consolidating above its 200-DMA, which stands around ₹527 levels, in recent trading sessions. Below which, technical chart shows presence of support around ₹514 and ₹500 levels. The overall bias is likely to remain positive as long as the stock holds above ₹476. On the upside, the stock faces interim resistance around ₹559. Break and sustained trade above the same can potentially trigger a rally towards ₹620 levels, with intermediate resistance around ₹570 levels.
Mint
22-05-2025
- Business
- Mint
Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy today — 22 May 2025
Breakout stocks buy or sell: The Indian stock market benchmarks, the Sensex and Nifty 50, break their three-day losing streak on Wednesday, May 21, thanks to broad-based buying. The Sensex gained 410 points, or 0.51%, to close at 81,596.63, while the Nifty 50 advanced 130 points, or 0.52%, finishing at 24,813.45. The BSE Midcap index climbed 0.90%, and the Smallcap index rose 0.51%. The total market capitalisation of companies listed on the BSE increased to ₹ 441 lakh crore from ₹ 438 lakh crore in the previous session, resulting in a gain of approximately ₹ 3 lakh crore for investors in just one trading day. Sumeet Bagadia, Executive Director at Choice Broking, believes that the Indian stock market sentiment is positive as the Nifty 50 index is showing ascending channel pattern. Speaking on the outlook of Indian stock market, Bagadia said, 'The benchmark index has crucial support placed at 24,500 levels. One should maintain stock-specific approach and look at those stocks that are looking strong on the technical chart. Looking at breakout stocks can be a good option.' 1] City Union Bank: Buy at ₹ 197.08, target ₹ 211, stop loss ₹ 190; 2] LT Foods: Buy at ₹ 398.15, target ₹ 426, stop loss ₹ 384; 3] Kajaria Ceramics: Buy at ₹ 1003.9, target ₹ 1075, stop loss ₹ 968; 4] Sarla Performance Fibers: Buy at ₹ 111.76, target ₹ 121, stop loss ₹ 107; 5] Shiva Texyarn: Buy at ₹ 228.26, target ₹ 244, stop loss ₹ 220. Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
Mint
14-05-2025
- Business
- Mint
City Union Bank share price soars 2% to reach highest level since December 2022, gains 10% in May
City Union Bank's share price extended its winning streak for the third straight day on Wednesday, May 14, gaining another 2% in trade to touch a 28-month high of ₹ 195 apiece. The stock last traded at these levels in December 2022. With the steady rise, shares are now approaching their record high of ₹ 249.35, last seen in January 2020. The stock has maintained a consistent upward trend since the beginning of May, as investor sentiment improved following the lender's return to a growth trajectory in the March quarter. This recovery was driven by its ongoing digital transformation efforts, which also prompted brokerages to raise their target multiples, further fueling the rally. Notably, the stock ended both April and March in the green, with gains of 12.33% and 6.35%, respectively. The rally has extended into the current month, with the stock rising another 10% so far. Following the bank's in-line performance, Axis Securities revised its target price on City Union Bank to ₹ 225 apiece, maintaining its 'Buy' rating. Likewise, IDBI Capital retained its 'Buy' rating with a target price of ₹ 215. Anand Rathi also maintained a 'Buy' with a 12-month target of ₹ 218, while Prabhudas Lilladher raised its target to ₹ 210 from ₹ 200, reiterating its 'Buy' stance. City Union Bank reported a 13% YoY increase in net profit to ₹ 288 crore for the quarter ended March 2025, driven by stronger fee income, particularly from insurance and processing charges. Net Interest Income (NII) rose 10% YoY to ₹ 600 crore, while Net Interest Margins (NIMs) improved marginally by 2 basis points, as the bank shed lower-yielding loans. Pre-provision operating profit surged 25.3% YoY to ₹ 441 crore. Credit costs remained largely stable at 60 basis points, compared to 61 bps in the previous quarter. Non-interest income saw robust growth of 43% YoY to ₹ 251 crore, supported by strong fee-based revenues. On the asset quality front, gross NPA improved to 3.09% from 3.36% QoQ, driven by higher write-offs. Management remains confident of further improvement in asset quality, supported by controlled slippages and healthy recoveries. For FY26, slippages are expected to decline to ₹ 650–700 crore, compared to ₹ 815 crore in FY25. Looking ahead, the bank aims to maintain the business momentum it has gained in FY25 while targeting a sustainable Return on Assets (RoA) of 1.5%. Axis Securities highlighted potential NIM pressures in the coming quarters due to yield compression in the EBLR-linked loan book. However, the brokerage believes that the impact will be cushioned by multiple initiatives undertaken by the bank to offset margin declines. Axis expects City Union Bank to deliver consistent RoA and RoE of 1.5–1.6% and 12–14%, respectively, over FY26–27E, supported by strengthening fee income, steady NIMs, and controlled credit costs despite higher operational expenses. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
