Upgrade KVB stock to ‘buy’ on RoA recovery visibility
The same gives us comfort to lower our credit cost assumption for FY22E to 1.7% vs 2.2% in FY21E (still higher than the 10-year historical average of 1.4%). Bringing the culture of ‘ownership’. KVB will roll out new performance-linked ESOP policy (starting Mar’21), covering ~90% of its workforce.
Check the source here –Source, Financial Express.