South Indian Bank Share Price: There was a strong buying trend in South Indian Bank shares today due to two reasons. One is that Donald Trump’s government is going to be formed once again in America, hence there is a good buying trend in the overall market and the second reason is that its business results are going to come on Tuesday, January 21. Buying of shares increased in anticipation of better results from December quarter trading update and it jumped 1.58 per cent to Rs 27.08 intra-day. At the end of the day, it closed at Rs 27.01 with a gain of 1.31 percent.
What is special in South Indian Bank’s Q3 business update?
South Indian Bank’s gross advances grew 11.94% year-on-year to ₹86,965 crore and total deposits jumped 6.28% to ₹1,05,378 crore in the December quarter. During this period, the current account savings account (CASA) deposits of the bank jumped by 4.13% to ₹ 32,831 crore but the CASA ratio slipped slightly from 31.80% to 31.16%.
How were the shares in one year?
Shares of South Indian Bank were at Rs 36.91 on February 2, 2024, which is a one-year record high level for its shares. This rise in shares stopped here and from this high level, it slipped by more than 26 percent in 9 months and reached the price of Rs 22.27 last month on November 18, 2024, which is the record low level of one year for its shares. Shares recovered at lower levels and recovered more than 21 percent on the basis of buying, but it is still about 27 percent downside from one year high. According to the details available on Indamoni, it is covered by 6 analysts and its highest target price is Rs 42 and downside target is Rs 27, that is, according to this target, it can give more than 55 percent return from the current level.
Gainers & Losers: Before Trump became President, there was a lot of movement in these 10 stocks, huge money was made in intra-day.
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