South Indian Bank jumps on strong Q3 results

South Indian Bank

18/01/2024 07:35

** Shares of South Indian Bank  SIBK.NS  up 11% to 31.7 rupees
    ** Co reported Dec-qtr profit of 3.05 bln rupees ($36.69
million) vs 1.03 bln rupees year ago 
    ** Dec-qtr provisions and contingencies rose 17.2% to 485.5
mln rupees; interest earned rose 15.1% to 21.84 bln rupees 
    ** Stock has been trading above 200-day moving avg since
Sept. 5, 2022 and above 100-day moving avg since May 31, 2023 
    ** Avg rating of four analysts close to equivalent of
"buy,"; median PT is 28 rupees - LSEG
    ** Stock sees busiest day since Aug. 18, 2023

($1 = 83.1280 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))