City Union Bank shares rise 2% after a 15.6% YoY jump in Q1 profit and lower gross NPAs.

• Net profit for June quarter at Rs 3.06 bln; gross NPAs drop to 2.99% from 3.88% YoY.
• Investec ups target to Rs 280, maintains “buy”; expects higher PAT, NIM, despite rising credit costs.
• CTBK remains the top analyst pick with strong RoA, market hold, and a 26% YTD stock gain.