Turning Bullish: Karur Vysya Bank (KVB)

27 sept

KVB has turned bullish by taking strong support from 206 levels.
It broke the previously held strong resistance of 215 and trading near 219 levels.
Strong bullish momentum is visible in short, medium, and long-term moving averages.
Pros based on the research from fundamental analysis:

• Increasing Net Cash Flow and Operating Cash.
  
• High TTM EPS Growth company.
  
• Recent quarters showed good growth.
  
• In the last two years, RoCE has improved.
  
• Effective use of shareholders funds—ROE up in previous two years.
  
• ROA has increased over the past two years due to efficient asset management.
  
• Increased Quarterly Net Profit and Profit Margin.
  
• Low-Debt Company.
  
• Revenue growth every quarter for 4 quarters.
  
• Profit growth every quarter for 4 quarters.
  
• Solid core business cash generation—improving cash flow from operation for 2 years.
  
• The company has improved its net cash flow for 2 years.
  
• Two years of rising annual net profits.
  
• 2 years of increasing book value per share.
  
• Declining Promoter Pledge Company.
  

Revised Target: 270