South Indian Bank Ltd (SOUTHBANK)

Anand Rathi Recommends Buy on South Indian Bank Ltd - 08 May, 2024

Brokerage firm Anand Rathi has recommended a buy rating for South Indian Bank Ltd with a target price of Rs 39, indicating a potential upside of around 40%. The bank's improving asset quality and lower provisions are expected to aid its core profitability. The net non-performing assets have consistently reduced in the past couple of years, while the net interest margin has marginally increased.

South Indian Bank Stock Surges 290% - 06 May, 2024

South Indian Bank's stock has quadrupled investor wealth in two years, rising 290%. Anand Rathi recommends a Buy rating with a target price of Rs. 39.

South Indian Bank Aims for Growth Despite Dip in Q4 Profit - 03 May, 2024

South Indian Bank plans to intensify efforts in retail and MSME segments, increase NIMs to 3.5%, and achieve healthy deposit growth of 10-12% in FY25 despite a dip in Q4 profit. The bank's full-year earnings showed an increase in revenue, net income, and profit margin. However, the bank's shares are down 3.9% from a week ago.

South Indian Bank Reports Decline in Q4 Net Profit - 02 May, 2024

South Indian Bank reported a 13.88% decline in Q4 FY24 net profit to Rs 287.56 crore. However, the bank registered a net profit of Rs 1,070.08 crore with a growth of 38% in FY23-24. The banks gross non-performing asset in Q4 FY24 came down by 64 basis points YoY. Shares tumbled over 5%.

South Indian Bank Partners with Tata Motors for Financing Solutions - 29 Apr, 2024

South Indian Bank has signed an MoU with Tata Motors to provide financing options for its entire line of commercial vehicles, offering attractive interest rates, flexible terms, and efficient processing. The partnership aims to enhance support to dealerships, foster growth, minimize collateral requirements, lower the rate of interest, and streamline credit processing.

South Indian Bank Undervalued with Positive Returns - 28 Apr, 2024

South Indian Bank's undervaluation is indicated by its lower P/E ratio than the industry average. The bank has delivered positive returns of about 37% in the last six months and multibagger returns of nearly 110% in the last one year. Its net profit increased by 11.3% from Q2FY24 to Q3FY24, while the net NPA decreased by 0.09%. FIIs hold 15.17% of shares as of March 2024.

South Indian Bank Partners with Ashok Leyland for Dealer Financing - 18 Apr, 2024

South Indian Bank has partnered with Ashok Leyland to provide financing support to its dealers under the banks dealer finance scheme. The bank will offer competitive dealer finance options to the dealers of the leading truck and bus maker.

Citigroup Global Markets Mauritius Buys Stake in South Indian Bank - 09 Apr, 2024

Foreign investor Citigroup Global Markets Mauritius has purchased a 0.67% equity stake in South Indian Bank for Rs 50.85 crore, with Copthall Mauritius Investment as the seller.