South Indian Bank rises on fund raise nod

South Indian Bank

28/12/2023 04:44

** Shares of South Indian Bank  SIBK.NS  up as much as 3% at
27.45 rupees
    ** Lender approves fund raise of upto 17.50 bln rupees
($210.10 mln) through the issuance of shares on a rights basis
    ** SIBK trading above its 200-day moving avgs since Sept. 5,
2022 and 100-day avg since May 31 
    ** Average rating of four analysts covering stock is "buy";
median PT is 27 rupees - LSEG  
    ** Including Thursday's move, stock up 42.3% YTD 
 


($1 = 83.2940 Indian rupees)

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