South Indian Bank hits over 2-week high after provisional Q3 results

South Indian Bank

03/01/2023 04:51

** Shares of South Indian Bank Ltd  SIBK.NS  rise as much as
10.1% to 21.20 rupees, highest since Dec 16
    ** Co said on Monday reported provisional data for December
quarter that showed an 18% year-on-year increase in gross
advances to 701.68 bln rupees 
    ** Total deposit rose 3% YoY to 907.14 bln rupees 
    ** Stock has been on a bullish streak, trading consistently
above its 50-day, 100-day, and 200-day simple moving averages
for more than 3 months
    ** Nearly 47.2 mln shares change hands by 10:00 a.m. IST vs
30-day avg of ~66.9 mln shares
    ** Out of the six analysts covering the stock, three have a
'buy' rating, while the rest rate it 'hold;' median PT is 15.50
rupees - Refinitiv data
    ** Stock more than doubled last year
 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))