South Indian Bank: There is a decline in the shares of private sector bank South Indian Bank on January 27. This stock seems to be trading around its day low. The stock has declined by 26.43 percent in the last 1 year. In such a situation, if you are also facing loss in this banking stock, then what investment strategy should you make in it now? Let us know what is the opinion of market leaders on this stock.
Prakash Gaba of prakashgaba.com It is said that this stock has been declining for the last one year. The bank may see further decline in future. Even those investors who have a long term view in this stock, there is a possibility of loss in it. There may be a decline in it in the short term. Because this stock remains weak to a great extent.
Prakash Gaba further said that currently the stock is functioning around Rs 24.80 but it is expected that the stock will see further decline from here and the stock may show the level of Rs 20 in future. According to Prakash Gaba, it is difficult to say whether this stock will stop at this level or not. Because the structure of the stock has become very weak.
Let us tell you that the share of South Indian Bank is trading at Rs 24.83 on NSE around 12.35 pm with a fall of Rs 1.02 i.e. 3.91 percent. The day high of the stock is at Rs 25.78 while its day low is at Rs 24.65. The stock has seen a decline of 8 percent in 1 week. With today’s fall, the market cap of the bank has reached Rs 6,493 crore.
How were the Q3 results?
Let us tell you that recently the bank had released the results of the third quarter of FY25. According to which the company’s net profit has increased by 12 percent in the October-December quarter. The bank has earned a profit of Rs 342 crore during this period, whereas this figure was Rs 305 crore in the same quarter last year. South Indian Bank’s total income increased to ₹2,818 crore in the December quarter, which is 7 per cent higher than ₹2,636 crore recorded in the same quarter last year. The asset quality of the bank has improved compared to the previous September quarter. The bank’s gross non-performing assets (NPA) improved from 4.40 percent to 4.30 percent. Its net NPA has also improved to 1.25 percent from 1.31 percent in the last quarter.
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