South Indian Bank rises as Nirmal Bang initiates coverage with "buy"
BUZZ-South Indian Bank rises as Nirmal Bang initiates coverage with "buy" ** Shares of South Indian Bank SIBK.NS rise 2.23% to 47.89 rupees
** Nirmal Bang initiates coverage with "buy", and TP: 62 rupees, citing private lender's completed balance-sheet repair and improving earnings outlook
** Brokerage says co is entering new growth phase, supported by stronger underwriting, lower credit costs and more granular retail and MSME-focused loan mix
** Sees ~15% loan CAGR over FY26–FY29 and sustainable return on assets of about 1.2%, supported by margin recovery and benign credit costs.
** Says market continues to undervalue structural improvement in co, creating scope for valuation rerating
** YTD stock up 24.84%
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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